$900,000
0.22 Acres
Land
Jonica Vidrine Gibson, Listing Office: Compass
Is 20816, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$1,349,000
$487/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$99,000(+7.9%)
Key Takeaway
Homes in 20816 have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in 20816 was $1,349,000 in November 2024, up 7.9% from last year, and the median price per square foot was $487.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $250K | -5.7% |
| 2 Bedrooms | $541K | $580K | +7.2% |
| 3 Bedrooms | $1.0M | $1.2M | +11.4% |
| 4 Bedrooms | $1.3M | $1.4M | +5.1% |
| 5+ Bedrooms | $2.0M | $1.8M | -11.4% |
Summary: 20816 housing prices by bedroom type for November 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 11.4%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 11.4%.
Housing Supply in 20816, MD
How many homes are available in 20816, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 31 | -6.1% |
Summary: The 20816 real estate market had 31 homes for sale in November 2024, a 6.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 10 | 6 | -40.0% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The 20816 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 40%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20816, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in 20816 in November 2024, up by 25.0% month-over-month. Of the 10 sold homes, 20% were sold under asking, 50% were sold at asking, and 30% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 20 Days | -21.5% |
Summary: Homes in 20816 had an average of 20 days on market in Nov 2024, down by 21.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 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 November 2024, 10 homes were sold in 20816; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
