$99,000
5.57 Acres
Land
David Friedrich, Listing Office: Coldwell Banker Realty
Is 20640, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 20640 has remained a Seller's Market.
Key Takeaway
20640 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20640, MD
How much do homes in 20640, MD cost?
Median Sold Price
$322,500
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
-$28,185(-8.0%)
Key Takeaway
Homes in 20640 have sold for 8% less than they did a year ago.
Summary: The median home sold price in 20640 was $322,500 in December 2024, down 8% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $355.5K | +48.1% |
| 2 Bedrooms | $127.5K | $130K | +2.0% |
| 3 Bedrooms | $356.4K | $302.5K | -15.1% |
| 4 Bedrooms | $380K | $430K | +13.2% |
| 5+ Bedrooms | $536.1K | $564.9K | +5.4% |
Summary: 20640 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.1%, 2 bedroom homes increased by 2%, 3 bedroom homes decreased by 15.1%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 5.4%.
Housing Supply in 20640, MD
How many homes are available in 20640, MD?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 65 | 58 | -10.8% |
Summary: The 20640 real estate market had 58 homes for sale in December 2024, a 10.8% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 19 | 19 | 0.0% |
| 3 Bedrooms | 22 | 22 | 0.0% |
| 4 Bedrooms | 13 | 10 | -23.1% |
| 5+ Bedrooms | 10 | 6 | -40.0% |
Summary: The 20640 housing inventory by bedroom type for December 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 23.1%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20640, expect to pay close to the asking price. 46.2% of homes here sold near the asking price last month.
Summary: A total of 13 homes were sold or pending in 20640 in December 2024, up by 18.2% month-over-month. Of the 13 sold homes, 8% were sold under asking, 46% were sold at asking, and 46% were sold over asking.
Days on Market for 20640, MD
How long does it take to sell a home in 20640, MD?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 32 Days | 32 Days | -1.2% |
Summary: Homes in 20640 had an average of 32 days on market in Dec 2024, down by 1.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20640 are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 13 homes were sold in 20640; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
