$4,986 Closing Credit*
$419,900
1,308 SqFt
3 Beds
•1 Full Bath
Bonnie M Gregorio, Listing Office: RE/MAX Professionals
Is 20724, 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, 20724 has remained a Seller's Market.
Key Takeaway
20724 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20724, MD
How much do homes in 20724, MD cost?
Median Sold Price
$477,500
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,500(+0.5%)
Key Takeaway
Homes in 20724 have sold for 0.5% more than they did a year ago.
Summary: The median home sold price in 20724 was $477,500 in October 2024, up 0.5% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $299.5K | $335K | +11.9% |
| 3 Bedrooms | $476.4K | $487.4K | +2.3% |
| 4 Bedrooms | $539K | $510K | -5.4% |
| 5+ Bedrooms | $530K | $477.5K | -9.9% |
Summary: 20724 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 11.9%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 9.9%.
Median Sold Price Compared To Nearby Zip Codes
| 20708 | $471.4K | $487K | +3.3% |
| 20724 | $475K | $477.5K | 0.5% |
Housing Supply in 20724, MD
How many homes are available in 20724, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 69 | 60 | -13.0% |
Summary: The 20724 real estate market had 60 homes for sale in October 2024, a 13.0% decrease 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 | 8 | 7 | -12.5% |
| 3 Bedrooms | 43 | 32 | -25.6% |
| 4 Bedrooms | 14 | 13 | -7.1% |
| 5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The 20724 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 decreased by 12.5%, 3 bedroom homes decreased by 25.6%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 26 | 14 | -46.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20724, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in 20724 in October 2024, down by 46.2% month-over-month. Of the 14 sold homes, 29% were sold under asking, 21% were sold at asking, and 50% were sold over asking.
Days on Market for 20724, MD
How long does it take to sell a home in 20724, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 18 Days | +5.0% |
Summary: Homes in 20724 had an average of 18 days on market in Oct 2024, up by 5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20724 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in 20724; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
