Is 20872, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20872 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 20872 has remained a Seller's Market.

Key Takeaway

20872 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 20872, MD

How much do homes in 20872, MD cost?

Median Sold Price

$552,500

$242/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$27,500(+5.2%)

Key Takeaway

Homes in 20872 have sold for 5.2% more than they did a year ago.

Summary: The median home sold price in 20872 was $552,500 in October 2024, up 5.2% from last year, and the median price per square foot was $242.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $270K$290K
+7.4%
3 $406K$495.9K
+22.2%
4 $551K$617K
+12.0%
5+ $819.5K$691.2K
-15.6%

Summary: 20872 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 7.4%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 12%, and 5+ bedroom homes decreased by 15.6%.

Median Sold Price Compared To Nearby Zip Codes

20882
+18.6%
20872
+5.2%
20871
+4.2%
21770
+2.8%
20876
-1.7%

Housing Supply in 20872, MD

How many homes are available in 20872, MD?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4847-2.1%

Summary: The 20872 real estate market had 47 homes for sale in October 2024, a 2.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 109
-10.0%
3 1713
-23.5%
4 1616
0.0%
5+ 59
+80.0%

Summary: The 20872 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 10%, 3 bedroom homes decreased by 23.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 80%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1611-31.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 20872, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.

Summary: A total of 11 homes were sold or pending in 20872 in October 2024, down by 31.3% month-over-month. Of the 11 sold homes, 18% were sold under asking, 45% were sold at asking, and 36% were sold over asking.

Days on Market for 20872, MD

How long does it take to sell a home in 20872, MD?

Average Sale Time

Oct 2023Oct 2024CHANGE
65 Days27 Days-57.9%

Summary: Homes in 20872 had an average of 27 days on market in Oct 2024, down by 57.9% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 20872 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 11 homes were sold in 20872; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% 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 21 Days Ago

Newest Listings in 20872, MD

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