$3,206 Closing Credit*
$270,000
1,226 SqFt
3 Beds
•2 Full Baths, 2 Partial
Michael C Middleton, Listing Office: Pearson Smith Realty, LLC
Is 20878, 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, 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
$695,654
$298/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$297(0.0%)
Key Takeaway
The sold price of homes in 20878 has remained the same since last year.
Summary: The median home sold price in 20878 was $695,654 in October 2024, the same as last year, and the median price per square foot was $298.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $249.5K | $305K | +22.2% |
| 2 Bedrooms | $400.9K | $390K | -2.7% |
| 3 Bedrooms | $516K | $560K | +8.5% |
| 4 Bedrooms | $825K | $875K | +6.1% |
| 5+ Bedrooms | $975K | $1.0M | +7.7% |
Summary: 20878 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.2%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 7.7%.
Housing Supply in 20878, MD
How many homes are available in 20878, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 153 | 163 | +6.5% |
Summary: The 20878 real estate market had 163 homes for sale in October 2024, a 6.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 10 | +150.0% |
| 2 Bedrooms | 30 | 29 | -3.3% |
| 3 Bedrooms | 45 | 47 | +4.4% |
| 4 Bedrooms | 46 | 47 | +2.2% |
| 5+ Bedrooms | 28 | 30 | +7.1% |
Summary: The 20878 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 | 51 | +2.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20878, you could pay more than the asking price. 51% of homes here sold above asking price last month.
Summary: A total of 51 homes were sold or pending in 20878 in October 2024, up by 2.0% month-over-month. Of the 51 sold homes, 31% were sold under asking, 18% were sold at asking, and 51% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 15 Days | -24.9% |
Summary: Homes in 20878 had an average of 15 days on market in Oct 2024, down by 24.9% compared to last year.
Breakdown of Home Sale Times
44 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 October 2024, 51 homes were sold in 20878; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
