Is Parkville, 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, Parkville has remained a Seller's Market.
Key Takeaway
Parkville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parkville, MD
How much do homes in Parkville, MD cost?
Median Sold Price
$300,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Parkville have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Parkville was $300,000 in May 2024, up 10.3% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $255K | N/A |
| 2 Bedrooms | $200K | $210.5K | +5.3% |
| 3 Bedrooms | $255K | $281.7K | +10.5% |
| 4 Bedrooms | $325K | $355K | +9.2% |
| 5+ Bedrooms | $364.9K | $399.9K | +9.6% |
Summary: Parkville 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 5.3%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
| Parkville | $272K | $300K | +10.3% |
| Glen Arm | $575K | $612.2K | +6.5% |
| Nottingham | $290.5K | $305K | +5.0% |
| Towson | $410K | $425K | +3.7% |
| Baltimore | $214.4K | $220K | +2.6% |
Housing Supply in Parkville, MD
How many homes are available in Parkville, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 170 | 195 | +14.7% |
Summary: The Parkville real estate market had 195 homes for sale in May 2024, a 14.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 11 | +37.5% |
| 3 Bedrooms | 97 | 106 | +9.3% |
| 4 Bedrooms | 47 | 56 | +19.1% |
| 5+ Bedrooms | 17 | 21 | +23.5% |
Summary: The Parkville 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 37.5%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes increased by 23.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 34 | -32.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Parkville, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in Parkville in May 2024, down by 32.0% month-over-month. Of the 34 sold homes, 18% were sold under asking, 32% were sold at asking, and 50% were sold over asking.
Days on Market for Parkville, MD
How long does it take to sell a home in Parkville, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 22 Days | +41.7% |
Summary: Homes in Parkville had an average of 22 days on market in May 2024, up by 41.7% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Parkville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 34 homes were sold in Parkville; 76% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
