$5,938 Closing Credit*
$500,000
1,728 SqFt
3 Beds
•3 Full Baths, 1 Partial
Liliana Vallario, Listing Office: EXP Realty, LLC
Is Jessup, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since November 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 November 2024, up 1% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $392K | $405K | +3.3% |
| 3 Bedrooms | $465K | $475K | +2.2% |
| 4 Bedrooms | $520K | $612.5K | +17.8% |
| 5+ Bedrooms | $754.9K | $797.4K | +5.6% |
Summary: Jessup housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Hanover | $523.5K | $530.8K | +1.4% |
| Jessup | $490K | $495K | +1.0% |
Housing Supply in Jessup, MD
How many homes are available in Jessup, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 41 | 35 | -14.6% |
Summary: The Jessup real estate market had 35 homes for sale in November 2024, a 14.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 32 | 27 | -15.6% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Jessup housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 15.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 6 | -57.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Jessup, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Jessup in November 2024, down by 57.1% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 19 Days | +27.8% |
Summary: Homes in Jessup had an average of 19 days on market in Nov 2024, up by 27.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 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 November 2024, 6 homes were sold in Jessup; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
