$5,451 Closing Credit*
$459,000
1,564 SqFt
3 Beds
•2 Full Baths
Jeanine Paxton, Listing Office: RE/MAX One
Is 20616, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 20616 was a Seller's Market.
Key Takeaway
20616 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 20616, MD
How much do homes in 20616, MD cost?
Median Sold Price
$437,715
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$23,975(+5.8%)
Key Takeaway
Homes in 20616 have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in 20616 was $437,715 in October 2024, up 5.8% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $231K | $210K | -9.1% |
| 3 Bedrooms | $402.8K | $410K | +1.8% |
| 4 Bedrooms | $540K | $565K | +4.6% |
| 5+ Bedrooms | $589.9K | $570K | -3.4% |
Summary: 20616 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 decreased by 9.1%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes decreased by 3.4%.
Housing Supply in 20616, MD
How many homes are available in 20616, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 28 | -12.5% |
Summary: The 20616 real estate market had 28 homes for sale in October 2024, a 12.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 18 | 17 | -5.6% |
| 5+ Bedrooms | 3 | 0 | -100.0% |
Summary: The 20616 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 4 | -63.6% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 20616, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in 20616 in October 2024, down by 63.6% month-over-month. Of the 4 sold homes, 0% were sold under asking, 75% were sold at asking, and 25% were sold over asking.
Days on Market for 20616, MD
How long does it take to sell a home in 20616, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 15 Days | -14.3% |
Summary: Homes in 20616 had an average of 15 days on market in Oct 2024, down by 14.3% compared to last year.
Breakdown of Home Sale Times
4 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 20616 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in 20616; 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.
