$6,019 Closing Credit*
$506,900
1,927 SqFt
3 Beds
•2 Full Baths
Lymar Curry, Listing Office: Keller Williams Preferred Properties
Is Damascus, 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, Damascus has remained a Seller's Market.
Key Takeaway
Damascus is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Damascus, MD
How much do homes in Damascus, MD cost?
Median Sold Price
$565,000
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,750(+2.5%)
Key Takeaway
Homes in Damascus have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Damascus was $565,000 in October 2024, up 2.5% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $272.9K | $287.5K | +5.3% |
| 3 Bedrooms | $427K | $500K | +17.1% |
| 4 Bedrooms | $600K | $615K | +2.5% |
| 5+ Bedrooms | $848.3K | $815K | -3.9% |
Summary: Damascus housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes decreased by 3.9%.
Housing Supply in Damascus, MD
How many homes are available in Damascus, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 48 | 50 | +4.2% |
Summary: The Damascus real estate market had 50 homes for sale in October 2024, a 4.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 16 | 12 | -25.0% |
| 4 Bedrooms | 18 | 18 | 0.0% |
| 5+ Bedrooms | 5 | 12 | +140.0% |
Summary: The Damascus 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 11.1%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 140%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 11 | -35.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Damascus, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Damascus in October 2024, down by 35.3% month-over-month. Of the 11 sold homes, 18% were sold under asking, 36% were sold at asking, and 45% were sold over asking.
Days on Market for Damascus, MD
How long does it take to sell a home in Damascus, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 45 Days | 20 Days | -54.4% |
Summary: Homes in Damascus had an average of 20 days on market in Oct 2024, down by 54.4% compared to last year.
Breakdown of Home Sale Times
9 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 Damascus are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in Damascus; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
