Is 20879, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20879 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 20879 has remained a Seller's Market.

Key Takeaway

20879 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 20879, MD

How much do homes in 20879, MD cost?

Median Sold Price

$442,500

$253/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$27,500(+6.6%)

Key Takeaway

Homes in 20879 have sold for 6.6% more than they did a year ago.

Summary: The median home sold price in 20879 was $442,500 in October 2024, up 6.6% from last year, and the median price per square foot was $253.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $185K$205K
+10.8%
2 $226.2K$250K
+10.5%
3 $415K$437K
+5.3%
4 $551.2K$576.2K
+4.5%
5+ $618K$611.2K
-1.1%

Summary: 20879 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 1.1%.

Median Sold Price Compared To Nearby Zip Codes

20855
+7.2%
20879
+6.6%
20877
+4.8%
20886
+4.0%
20876
-1.7%

Housing Supply in 20879, MD

How many homes are available in 20879, MD?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5457+5.6%

Summary: The 20879 real estate market had 57 homes for sale in October 2024, a 5.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 86
-25.0%
2 1311
-15.4%
3 1619
+18.8%
4 1416
+14.3%
5+ 35
+66.7%

Summary: The 20879 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2115-28.6%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 20879, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.

Summary: A total of 15 homes were sold or pending in 20879 in October 2024, down by 28.6% month-over-month. Of the 15 sold homes, 27% were sold under asking, 27% were sold at asking, and 47% were sold over asking.

Days on Market for 20879, MD

How long does it take to sell a home in 20879, MD?

Average Sale Time

Oct 2023Oct 2024CHANGE
12 Days25 Days+101.6%

Summary: Homes in 20879 had an average of 25 days on market in Oct 2024, up by 101.6% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 20879 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 15 homes were sold in 20879; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% 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

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