$2,316 Closing Credit*
$195,000
750 SqFt
1 Bed
•1 Full Bath
Nicole A. Moreno, Listing Office: Northrop Realty
Is 20874, 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, 20874 has remained a Seller's Market.
Key Takeaway
20874 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20874, MD
How much do homes in 20874, MD cost?
Median Sold Price
$415,000
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,000(+5.1%)
Key Takeaway
Homes in 20874 have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in 20874 was $415,000 in October 2024, up 5.1% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $220K | +4.8% |
| 2 Bedrooms | $290K | $305K | +5.2% |
| 3 Bedrooms | $410K | $428.2K | +4.4% |
| 4 Bedrooms | $600K | $605K | +0.8% |
| 5+ Bedrooms | $799.9K | $865K | +8.1% |
Summary: 20874 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 8.1%.
Housing Supply in 20874, MD
How many homes are available in 20874, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 154 | 171 | +11.0% |
Summary: The 20874 real estate market had 171 homes for sale in October 2024, a 11.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 6 | +100.0% |
| 2 Bedrooms | 52 | 54 | +3.8% |
| 3 Bedrooms | 65 | 77 | +18.5% |
| 4 Bedrooms | 28 | 29 | +3.6% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The 20874 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 18.5%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 54 | 39 | -27.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20874, you could pay more than the asking price. 51.3% of homes here sold above asking price last month.
Summary: A total of 39 homes were sold or pending in 20874 in October 2024, down by 27.8% month-over-month. Of the 39 sold homes, 15% were sold under asking, 33% were sold at asking, and 51% were sold over asking.
Days on Market for 20874, MD
How long does it take to sell a home in 20874, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 15 Days | +25.3% |
Summary: Homes in 20874 had an average of 15 days on market in Oct 2024, up by 25.3% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20874 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 39 homes were sold in 20874; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
