Is Bowie, 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, Bowie has remained a Seller's Market.
Key Takeaway
Bowie is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bowie, MD
How much do homes in Bowie, MD cost?
Median Sold Price
$491,558
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bowie have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Bowie was $491,558 in May 2024, up 6.4% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $186K | $181.9K | -2.2% |
| 2 Bedrooms | $300K | $310.4K | +3.5% |
| 3 Bedrooms | $430K | $460K | +7.0% |
| 4 Bedrooms | $499.8K | $529.4K | +5.9% |
| 5+ Bedrooms | $665K | $663K | -0.3% |
Summary: Bowie housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 0.3%.
Median Sold Price Compared To Nearby Cities
| Bowie | $462.1K | $491.5K | +6.4% |
| Davidsonville | $920K | $910K | -1.1% |
Housing Supply in Bowie, MD
How many homes are available in Bowie, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 265 | 307 | +15.8% |
Summary: The Bowie real estate market had 307 homes for sale in May 2024, a 15.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 22 | 24 | +9.1% |
| 3 Bedrooms | 92 | 111 | +20.7% |
| 4 Bedrooms | 111 | 119 | +7.2% |
| 5+ Bedrooms | 38 | 52 | +36.8% |
Summary: The Bowie housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 20.7%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 36.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 71 | 53 | -25.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bowie, you could pay more than the asking price. 62.3% of homes here sold above asking price last month.
Summary: A total of 53 homes were sold or pending in Bowie in May 2024, down by 25.4% month-over-month. Of the 53 sold homes, 17% were sold under asking, 21% were sold at asking, and 62% were sold over asking.
Days on Market for Bowie, MD
How long does it take to sell a home in Bowie, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 14 Days | -39.7% |
Summary: Homes in Bowie had an average of 14 days on market in May 2024, down by 39.7% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bowie are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 53 homes were sold in Bowie; 92% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
