$10,000 Closing Credit*
$2,399,000
5,864 SqFt
6 Beds
•6 Full Baths
Manyi M Rehm, Listing Office: RE/MAX Realty Group
Is 20816, 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, 20816 has remained a Seller's Market.
Key Takeaway
20816 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20816, MD
How much do homes in 20816, MD cost?
Median Sold Price
$1,322,500
$488/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$112,500(+9.3%)
Key Takeaway
Homes in 20816 have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in 20816 was $1,322,500 in October 2024, up 9.3% from last year, and the median price per square foot was $488.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $250K | -5.7% |
| 2 Bedrooms | $541K | $580K | +7.2% |
| 3 Bedrooms | $1.0M | $1.1M | +11.6% |
| 4 Bedrooms | $1.3M | $1.4M | +9.3% |
| 5+ Bedrooms | $2.0M | $1.8M | -10.1% |
Summary: 20816 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.7%, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes decreased by 10.1%.
Housing Supply in 20816, MD
How many homes are available in 20816, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 | 37 | -15.9% |
Summary: The 20816 real estate market had 37 homes for sale in October 2024, a 15.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 8 | 2 | -75.0% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The 20816 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 decreased by 16.7%, 4 bedroom homes decreased by 75%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 7 | -63.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20816, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in 20816 in October 2024, down by 63.2% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% were sold over asking.
Days on Market for 20816, MD
How long does it take to sell a home in 20816, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 10 Days | -51.3% |
Summary: Homes in 20816 had an average of 10 days on market in Oct 2024, down by 51.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20816 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in 20816; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
