Is South, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, South has remained a Seller's Market.
Key Takeaway
South is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South, MD
How much do homes in South, MD cost?
Median Sold Price
$300,953
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in South was $300,953 in April 2024, up 6.4% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $245K | +11.4% |
| 2 Bedrooms | $260K | $286.9K | +10.3% |
| 3 Bedrooms | $305K | $280K | -8.2% |
| 4 Bedrooms | $465.5K | $450K | -3.3% |
| 5+ Bedrooms | $389.7K | $320K | -17.9% |
Summary: South housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes increased by 10.3%, 3 bedroom homes decreased by 8.2%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes decreased by 17.9%.
Housing Supply in South, MD
How many homes are available in South, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 204 | 237 | +16.2% |
Summary: The South real estate market had 237 homes for sale in April 2024, a 16.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 11 | +57.1% |
| 2 Bedrooms | 80 | 76 | -5.0% |
| 3 Bedrooms | 82 | 109 | +32.9% |
| 4 Bedrooms | 30 | 36 | +20.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The South housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 57.1%, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 32.9%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 59 | 49 | -16.9% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South, you could pay more than the asking price. 44.9% of homes here sold above asking price last month.
Summary: A total of 49 homes were sold or pending in South in April 2024, down by 16.9% month-over-month. Of the 49 sold homes, 27% were sold under asking, 29% were sold at asking, and 45% were sold over asking.
Days on Market for South, MD
How long does it take to sell a home in South, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 24 Days | -26.4% |
Summary: Homes in South had an average of 24 days on market in Apr 2024, down by 26.4% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 49 homes were sold in South; 80% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
