Is 20637, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20637 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 20637 was a Seller's Market.

Key Takeaway

20637 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 20637, MD

How much do homes in 20637, MD cost?

Median Sold Price

$605,000

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$40,000(-6.2%)

Key Takeaway

Homes in 20637 have sold for 6.2% less than they did a year ago.

Summary: The median home sold price in 20637 was $605,000 in November 2024, down 6.2% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 -$345K
N/A
3 $702.8K$495K
-29.6%
4 $615.5K$625K
+1.5%
5+ $645K$742.5K
+15.1%

Summary: 20637 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 29.6%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 15.1%.

Housing Supply in 20637, MD

How many homes are available in 20637, MD?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2431+29.2%

Summary: The 20637 real estate market had 31 homes for sale in November 2024, a 29.2% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 00
0.0%
3 910
+11.1%
4 712
+71.4%
5+ 89
+12.5%

Summary: The 20637 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 71.4%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
34+33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 20637, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in 20637 in November 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for 20637, MD

How long does it take to sell a home in 20637, MD?

Average Sale Time

Nov 2023Nov 2024CHANGE
44 Days47 Days+7.0%

Summary: Homes in 20637 had an average of 47 days on market in Nov 2024, up by 7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 20637 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 4 homes were sold in 20637; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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 10 Days Ago

Newest Listings in 20637, MD

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