$32,000
0.26 Acres
Land
Christopher J Carr, Listing Office: HomeZu by Simple Choice
Is Drum Point, 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, Drum Point has remained a Seller's Market.
Key Takeaway
Drum Point is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Drum Point, MD
How much do homes in Drum Point, MD cost?
Median Sold Price
$375,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$15,000(-3.8%)
Key Takeaway
Homes in Drum Point have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in Drum Point was $375,000 in October 2024, down 3.8% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $292.5K | $337.5K | +15.4% |
| 3 Bedrooms | $395K | $359K | -9.1% |
| 4 Bedrooms | $392.5K | $402.5K | +2.5% |
| 5+ Bedrooms | $499.9K | - | N/A |
Summary: Drum Point 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 15.4%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Chesapeake Ranch Estates | $324.5K | $340K | +4.8% |
| Drum Point | $390K | $375K | -3.8% |
Housing Supply in Drum Point, MD
How many homes are available in Drum Point, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 26 | +30.0% |
Summary: The Drum Point real estate market had 26 homes for sale in October 2024, a 30.0% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Drum Point 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 remained the same, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Drum Point, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Drum Point in October 2024, up by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Drum Point, MD
How long does it take to sell a home in Drum Point, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 8 Days | 17 Days | +112.4% |
Summary: Homes in Drum Point had an average of 17 days on market in Oct 2024, up by 112.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Drum Point are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Drum Point; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
