$2,969 Closing Credit*
$250,000
1,033 SqFt
2 Beds
•2 Full Baths
Eve Michel, Listing Office: Weichert Realtors - Blue Ribbon
Is 20877, 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, 20877 has remained a Seller's Market.
Key Takeaway
20877 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20877, MD
How much do homes in 20877, MD cost?
Median Sold Price
$490,000
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,500(+4.8%)
Key Takeaway
Homes in 20877 have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in 20877 was $490,000 in October 2024, up 4.8% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137.5K | $162K | +17.8% |
| 2 Bedrooms | $178K | $230K | +29.2% |
| 3 Bedrooms | $425K | $450K | +5.9% |
| 4 Bedrooms | $565.5K | $600K | +6.1% |
| 5+ Bedrooms | $622K | $662.5K | +6.5% |
Summary: 20877 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.8%, 2 bedroom homes increased by 29.2%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 6.5%.
Housing Supply in 20877, MD
How many homes are available in 20877, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 49 | +16.7% |
Summary: The 20877 real estate market had 49 homes for sale in October 2024, a 16.7% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 14 | 22 | +57.1% |
| 4 Bedrooms | 16 | 14 | -12.5% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The 20877 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 25%, 3 bedroom homes increased by 57.1%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20877, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 20877 in October 2024, down by 27.8% month-over-month. Of the 13 sold homes, 38% were sold under asking, 15% were sold at asking, and 46% were sold over asking.
Days on Market for 20877, MD
How long does it take to sell a home in 20877, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 16 Days | -22.8% |
Summary: Homes in 20877 had an average of 16 days on market in Oct 2024, down by 22.8% compared to last year.
Breakdown of Home Sale Times
11 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 20877 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in 20877; 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.
