Is 20871, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20871 is a 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

# BEDSOct 2023Oct 2024CHANGE
1 -$553.4K
N/A
2 $408K$455K
+11.5%
3 $530K$580.5K
+9.5%
4 $652.4K$705K
+8.0%
5+ $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%.

Median Sold Price Compared To Nearby Zip Codes

20841
+14.1%
20872
+5.2%
20871
+4.2%
21754
+3.7%
20876
-1.7%

Housing Supply in 20871, MD

How many homes are available in 20871, MD?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7382+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

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 88
0.0%
3 3040
+33.3%
4 2123
+9.5%
5+ 1310
-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 2024Oct 2024CHANGE
1429+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

Asking vs Sold - buyer

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 2023Oct 2024CHANGE
34 Days28 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

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