$100,000
0.45 Acres
Land
Jeanette Spicer, Listing Office: Keller Williams Preferred Properties
Is 20706, 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, 20706 has remained a Seller's Market.
Key Takeaway
20706 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20706, MD
How much do homes in 20706, MD cost?
Median Sold Price
$450,000
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,000(+5.6%)
Key Takeaway
Homes in 20706 have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in 20706 was $450,000 in October 2024, up 5.6% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126.5K | $134.9K | +6.6% |
| 2 Bedrooms | $270K | $336.5K | +24.6% |
| 3 Bedrooms | $397.2K | $425K | +7.0% |
| 4 Bedrooms | $452.7K | $460K | +1.6% |
| 5+ Bedrooms | $480K | $520K | +8.3% |
Summary: 20706 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.6%, 2 bedroom homes increased by 24.6%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 8.3%.
Housing Supply in 20706, MD
How many homes are available in 20706, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 88 | 104 | +18.2% |
Summary: The 20706 real estate market had 104 homes for sale in October 2024, a 18.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 41 | 47 | +14.6% |
| 4 Bedrooms | 27 | 27 | 0.0% |
| 5+ Bedrooms | 15 | 25 | +66.7% |
Summary: The 20706 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 increased by 14.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 25 | -7.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20706, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in 20706 in October 2024, down by 7.4% month-over-month. Of the 25 sold homes, 40% were sold under asking, 24% were sold at asking, and 36% were sold over asking.
Days on Market for 20706, MD
How long does it take to sell a home in 20706, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 33 Days | +58.8% |
Summary: Homes in 20706 had an average of 33 days on market in Oct 2024, up by 58.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20706 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 25 homes were sold in 20706; 64% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
