Is Mount Rainier, 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, Mount Rainier was a Seller's Market.
Key Takeaway
Mount Rainier is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Mount Rainier, MD
How much do homes in Mount Rainier, MD cost?
Median Sold Price
$530,000
$292/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mount Rainier have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in Mount Rainier was $530,000 in May 2024, up 7.9% from last year, and the median price per square foot was $292.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $332.2K | $386K | +16.2% |
| 3 Bedrooms | $445K | $427.5K | -3.9% |
| 4 Bedrooms | $515K | $533K | +3.5% |
| 5+ Bedrooms | $499.9K | $635K | +27.0% |
Summary: Mount Rainier 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 16.2%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 27%.
Median Sold Price Compared To Nearby Cities
| Mount Rainier | $491K | $530K | +7.9% |
| Hyattsville | $386.8K | $389.3K | +0.7% |
| Brentwood | $415K | $385K | -7.2% |
Housing Supply in Mount Rainier, MD
How many homes are available in Mount Rainier, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Summary: The Mount Rainier real estate market had 14 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Mount Rainier 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 decreased by 25%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Rainier, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Mount Rainier in May 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Mount Rainier, MD
How long does it take to sell a home in Mount Rainier, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 18 Days | +19.4% |
Summary: Homes in Mount Rainier had an average of 18 days on market in May 2024, up by 19.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mount Rainier are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Mount Rainier; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
