Is 20603, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20603 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 20603 has remained a Seller's Market.

Key Takeaway

20603 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 20603, MD

How much do homes in 20603, MD cost?

Median Sold Price

$456,225

$198/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,958(+1.8%)

Key Takeaway

Homes in 20603 have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in 20603 was $456,225 in October 2024, up 1.8% from last year, and the median price per square foot was $198.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $285K$340K
+19.3%
3 $359K$371.4K
+3.5%
4 $497.2K$500K
0.5%
5+ $585K$590K
+0.9%

Summary: 20603 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.3%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 0.9%.

Median Sold Price Compared To Nearby Zip Codes

20601
+8.0%
20603
+1.8%
20607
+1.1%
20695
-1.1%

Housing Supply in 20603, MD

How many homes are available in 20603, MD?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
99117+18.2%

Summary: The 20603 real estate market had 117 homes for sale in October 2024, a 18.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 34
+33.3%
3 4045
+12.5%
4 4053
+32.5%
5+ 1615
-6.3%

Summary: The 20603 housing inventory by bedroom type for October 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 12.5%, 4 bedroom homes increased by 32.5%, and 5+ bedroom homes decreased by 6.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2322-4.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 20603, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.

Summary: A total of 22 homes were sold or pending in 20603 in October 2024, down by 4.3% month-over-month. Of the 22 sold homes, 32% were sold under asking, 23% were sold at asking, and 45% were sold over asking.

Days on Market for 20603, MD

How long does it take to sell a home in 20603, MD?

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days18 Days-24.0%

Summary: Homes in 20603 had an average of 18 days on market in Oct 2024, down by 24% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 20603 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 22 homes were sold in 20603; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in 20603, MD

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