$6,294 Closing Credit*
$530,000
2,870 SqFt
4 Beds
•3 Full Baths, 1 Partial
Molly O Branson, Listing Office: RLAH @properties
Is 20705, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 20705 has remained a Seller's Market.
Key Takeaway
20705 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20705, MD
How much do homes in 20705, MD cost?
Median Sold Price
$452,500
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,500(+5.2%)
Key Takeaway
Homes in 20705 have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in 20705 was $452,500 in October 2024, up 5.2% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $145K | +11.5% |
| 2 Bedrooms | $175K | $189K | +8.0% |
| 3 Bedrooms | $425K | $450K | +5.9% |
| 4 Bedrooms | $505K | $510K | +1.0% |
| 5+ Bedrooms | $535K | $555K | +3.7% |
Summary: 20705 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 3.7%.
Housing Supply in 20705, MD
How many homes are available in 20705, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 64 | 67 | +4.7% |
Summary: The 20705 real estate market had 67 homes for sale in October 2024, a 4.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 7 | -12.5% |
| 2 Bedrooms | 10 | 6 | -40.0% |
| 3 Bedrooms | 17 | 20 | +17.6% |
| 4 Bedrooms | 21 | 25 | +19.0% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The 20705 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 40%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 24 | +4.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20705, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 20705 in October 2024, up by 4.3% month-over-month. Of the 24 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for 20705, MD
How long does it take to sell a home in 20705, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 21 Days | +1.1% |
Summary: Homes in 20705 had an average of 21 days on market in Oct 2024, up by 1.1% compared to last year.
Breakdown of Home Sale Times
20 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 20705 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in 20705; 83% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
