Is La Plata, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, La Plata was a Seller's Market.
Key Takeaway
La Plata is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in La Plata, MD
How much do homes in La Plata, MD cost?
Median Sold Price
$452,490
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in La Plata have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in La Plata was $452,490 in May 2024, up 5.8% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $309.9K | $320K | +3.2% |
| 3 Bedrooms | $379.4K | $402.9K | +6.2% |
| 4 Bedrooms | $499.9K | $490K | -2.0% |
| 5+ Bedrooms | $545K | $568.9K | +4.4% |
Summary: La Plata housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 4.4%.
Median Sold Price Compared To Nearby Cities
| La Plata | $427.4K | $452.4K | +5.8% |
| White Plains | $470K | $470K | 0.0% |
| Port Tobacco | $560K | $511.9K | -8.6% |
Housing Supply in La Plata, MD
How many homes are available in La Plata, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 120 | 153 | +27.5% |
Summary: The La Plata real estate market had 153 homes for sale in May 2024, a 27.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 16 | +33.3% |
| 3 Bedrooms | 41 | 51 | +24.4% |
| 4 Bedrooms | 48 | 66 | +37.5% |
| 5+ Bedrooms | 19 | 20 | +5.3% |
Summary: The La Plata 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 increased by 33.3%, 3 bedroom homes increased by 24.4%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 17 | -37.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in La Plata, you could pay more than the asking price. 47.1% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in La Plata in May 2024, down by 37.0% month-over-month. Of the 17 sold homes, 18% were sold under asking, 35% were sold at asking, and 47% were sold over asking.
Days on Market for La Plata, MD
How long does it take to sell a home in La Plata, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 10 Days | -63.8% |
Summary: Homes in La Plata had an average of 10 days on market in May 2024, down by 63.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in La Plata are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 17 homes were sold in La Plata; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
