$8,016 Closing Credit*
$675,000
2,650 SqFt
4 Beds
•3 Full Baths, 1 Partial
Maria Elena Mantzouranis, Listing Office: RE/MAX Realty Centre, Inc.
Is 20871, 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, 20871 has remained a Seller's Market.
Key Takeaway
20871 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20871, MD
How much do homes in 20871, MD cost?
Median Sold Price
$625,000
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,000(+4.2%)
Key Takeaway
Homes in 20871 have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in 20871 was $625,000 in October 2024, up 4.2% 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 | - | $553.4K | N/A |
| 2 Bedrooms | $408K | $455K | +11.5% |
| 3 Bedrooms | $530K | $580.5K | +9.5% |
| 4 Bedrooms | $652.4K | $705K | +8.0% |
| 5+ Bedrooms | $889.5K | $900K | +1.2% |
Summary: 20871 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 11.5%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 1.2%.
Housing Supply in 20871, MD
How many homes are available in 20871, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 73 | 82 | +12.3% |
Summary: The 20871 real estate market had 82 homes for sale in October 2024, a 12.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 30 | 40 | +33.3% |
| 4 Bedrooms | 21 | 23 | +9.5% |
| 5+ Bedrooms | 13 | 10 | -23.1% |
Summary: The 20871 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 33.3%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes decreased by 23.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 29 | +107.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20871, expect to pay close to the asking price. 34.5% of homes here sold near the asking price last month.
Summary: A total of 29 homes were sold or pending in 20871 in October 2024, up by 107.1% month-over-month. Of the 29 sold homes, 31% were sold under asking, 34% were sold at asking, and 34% were sold over asking.
Days on Market for 20871, MD
How long does it take to sell a home in 20871, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 28 Days | -18.9% |
Summary: Homes in 20871 had an average of 28 days on market in Oct 2024, down by 18.9% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20871 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 29 homes were sold in 20871; 66% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
