$4,156 Closing Credit*
$350,000
774 SqFt
2 Beds
•1 Full Bath
D. Eric Coaxum, Listing Office: RE/MAX Advantage Realty
Is 20723, 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, 20723 has remained a Seller's Market.
Key Takeaway
20723 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20723, MD
How much do homes in 20723, MD cost?
Median Sold Price
$559,900
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$34,900(+6.6%)
Key Takeaway
Homes in 20723 have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in 20723 was $559,900 in October 2024, up 6.6% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $195K | N/A |
| 2 Bedrooms | $315.5K | $345K | +9.4% |
| 3 Bedrooms | $450K | $463.5K | +3.0% |
| 4 Bedrooms | $635K | $670K | +5.5% |
| 5+ Bedrooms | $769.5K | $900K | +17.0% |
Summary: 20723 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 increased by 9.4%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 17%.
Housing Supply in 20723, MD
How many homes are available in 20723, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 63 | 69 | +9.5% |
Summary: The 20723 real estate market had 69 homes for sale in October 2024, a 9.5% 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 | 11 | 13 | +18.2% |
| 3 Bedrooms | 28 | 27 | -3.6% |
| 4 Bedrooms | 18 | 21 | +16.7% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The 20723 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 increased by 18.2%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 | 18 | -30.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20723, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in 20723 in October 2024, down by 30.8% month-over-month. Of the 18 sold homes, 22% were sold under asking, 33% were sold at asking, and 44% were sold over asking.
Days on Market for 20723, MD
How long does it take to sell a home in 20723, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 23 Days | +142.4% |
Summary: Homes in 20723 had an average of 23 days on market in Oct 2024, up by 142.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20723 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in 20723; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
