Is Takoma Park, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Takoma Park has remained a Seller's Market.
Housing Prices in Takoma Park, MD
How much do homes in Takoma Park, MD cost?
Median Sold Price
$657,500
$354/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Takoma Park was $657,500 in May 2024, down 0.4% from last year, and the median price per square foot was $354.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $197.4K | +6.7% |
2 Bedrooms | $259K | $257.5K | -0.6% |
3 Bedrooms | $645K | $712.5K | +10.5% |
4 Bedrooms | $720K | $802.5K | +11.5% |
5+ Bedrooms | $971.5K | $1.0M | +5.0% |
Summary: Takoma Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 5%.
Housing Supply in Takoma Park, MD
How many homes are available in Takoma Park, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
46 | 52 | +13.0% |
Summary: The Takoma Park real estate market had 52 homes for sale in May 2024, a 13.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 11 | 11 | 0.0% |
3 Bedrooms | 12 | 13 | +8.3% |
4 Bedrooms | 10 | 15 | +50.0% |
5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The Takoma Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 11 | -15.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Takoma Park in May 2024, down by 15.4% month-over-month. Of the 11 sold homes, 18% were sold under asking, 27% were sold at asking, and 55% were sold over asking.
Days on Market for Takoma Park, MD
How long does it take to sell a home in Takoma Park, MD?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 14 Days | -49.3% |
Summary: Homes in Takoma Park had an average of 14 days on market in May 2024, down by 49.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Takoma Park; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.