$6,234 Closing Credit*
$525,000
2,320 SqFt
3 Beds
•2 Full Baths, 1 Partial
Christopher E Buscher, Listing Office: CENTURY 21 New Millennium
Is Jessup, 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, Jessup has remained a Seller's Market.
Key Takeaway
Jessup is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Jessup, MD
How much do homes in Jessup, MD cost?
Median Sold Price
$495,000
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,000(+1.0%)
Key Takeaway
Homes in Jessup have sold for 1% more than they did a year ago.
Summary: The median home sold price in Jessup was $495,000 in October 2024, up 1% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $370K | $405K | +9.5% |
| 3 Bedrooms | $460.2K | $480K | +4.3% |
| 4 Bedrooms | $520K | $610K | +17.3% |
| 5+ Bedrooms | $777.4K | $782.5K | +0.6% |
Summary: Jessup 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 9.5%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Hanover | $521.4K | $531.7K | +2.0% |
| Jessup | $490K | $495K | +1.0% |
Housing Supply in Jessup, MD
How many homes are available in Jessup, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 43 | +22.9% |
Summary: The Jessup real estate market had 43 homes for sale in October 2024, a 22.9% 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 23 | 33 | +43.5% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Jessup 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 43.5%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 14 | +40.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Jessup, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Jessup in October 2024, up by 40.0% month-over-month. Of the 14 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Jessup, MD
How long does it take to sell a home in Jessup, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 7 Days | 19 Days | +151.7% |
Summary: Homes in Jessup had an average of 19 days on market in Oct 2024, up by 151.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Jessup are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in Jessup; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
