$8,894 Closing Credit*
$749,000
2,753 SqFt
3 Beds
•3 Full Baths, 1 Partial
Choon Y Neoh, Listing Office: Realty ONE Group Capital
Is 20878, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 20878 has remained a Seller's Market.
Key Takeaway
20878 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20878, MD
How much do homes in 20878, MD cost?
Median Sold Price
$699,100
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$9,100(+1.3%)
Key Takeaway
Homes in 20878 have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in 20878 was $699,100 in November 2024, up 1.3% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250.9K | $305K | +21.5% |
| 2 Bedrooms | $402K | $390K | -3.0% |
| 3 Bedrooms | $519.9K | $562.5K | +8.2% |
| 4 Bedrooms | $833.9K | $875K | +4.9% |
| 5+ Bedrooms | $975K | $1.0M | +10.5% |
Summary: 20878 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.5%, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 10.5%.
Housing Supply in 20878, MD
How many homes are available in 20878, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 150 | 133 | -11.3% |
Summary: The 20878 real estate market had 133 homes for sale in November 2024, a 11.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 10 | +11.1% |
| 2 Bedrooms | 26 | 30 | +15.4% |
| 3 Bedrooms | 44 | 38 | -13.6% |
| 4 Bedrooms | 44 | 32 | -27.3% |
| 5+ Bedrooms | 27 | 23 | -14.8% |
Summary: The 20878 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes decreased by 14.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 56 | 46 | -17.9% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20878, you could pay more than the asking price. 41.3% of homes here sold above asking price last month.
Summary: A total of 46 homes were sold or pending in 20878 in November 2024, down by 17.9% month-over-month. Of the 46 sold homes, 39% were sold under asking, 20% were sold at asking, and 41% were sold over asking.
Days on Market for 20878, MD
How long does it take to sell a home in 20878, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 17 Days | +5.3% |
Summary: Homes in 20878 had an average of 17 days on market in Nov 2024, up by 5.3% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20878 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 46 homes were sold in 20878; 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.
