Is 20886, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20886 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 20886 has remained a Seller's Market.

Key Takeaway

20886 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 20886, MD

How much do homes in 20886, MD cost?

Median Sold Price

$390,000

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,000(+4.0%)

Key Takeaway

Homes in 20886 have sold for 4% more than they did a year ago.

Summary: The median home sold price in 20886 was $390,000 in October 2024, up 4% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $158.5K$175K
+10.4%
2 $222.5K$283.5K
+27.4%
3 $375K$383.5K
+2.3%
4 $520.9K$508K
-2.5%
5+ $635K$675K
+6.3%

Summary: 20886 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 27.4%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 6.3%.

Median Sold Price Compared To Nearby Zip Codes

20882
+18.6%
20879
+6.6%
20877
+4.8%
20886
+4.0%
20876
-1.7%

Housing Supply in 20886, MD

How many homes are available in 20886, MD?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
93107+15.1%

Summary: The 20886 real estate market had 107 homes for sale in October 2024, a 15.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 67
+16.7%
2 1826
+44.4%
3 4142
+2.4%
4 2527
+8.0%
5+ 35
+66.7%

Summary: The 20886 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 44.4%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2433+37.5%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 20886, expect to pay close to the asking price. 42.4% of homes here sold near the asking price last month.

Summary: A total of 33 homes were sold or pending in 20886 in October 2024, up by 37.5% month-over-month. Of the 33 sold homes, 27% were sold under asking, 42% were sold at asking, and 30% were sold over asking.

Days on Market for 20886, MD

How long does it take to sell a home in 20886, MD?

Average Sale Time

Oct 2023Oct 2024CHANGE
10 Days23 Days+129.0%

Summary: Homes in 20886 had an average of 23 days on market in Oct 2024, up by 129% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 20886 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 33 homes were sold in 20886; 76% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% 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 4 Days Ago

Newest Listings in 20886, MD

Nearby Markets to 20886, MD