$10,000 Closing Credit*
$930,000
3,482 SqFt
5 Beds
•3 Full Baths
Katherine L Bocock, Listing Office: Compass
Is Kemp Mill, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Kemp Mill was a Seller's Market.
Key Takeaway
Kemp Mill is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Kemp Mill, MD
How much do homes in Kemp Mill, MD cost?
Median Sold Price
$587,000
$297/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$29,500(+5.3%)
Key Takeaway
Homes in Kemp Mill have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Kemp Mill was $587,000 in October 2024, up 5.3% from last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165.5K | $165K | -0.3% |
| 2 Bedrooms | $193.8K | $219K | +13.0% |
| 3 Bedrooms | $537.5K | $575K | +7.0% |
| 4 Bedrooms | $598.7K | $605K | +1.0% |
| 5+ Bedrooms | $587.5K | $775K | +31.9% |
Summary: Kemp Mill housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.3%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 31.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Northwood / Four Corners | $562K | $612.5K | +9.0% |
| Kemp Mill | $557.5K | $587K | +5.3% |
| Four Corners | $650.8K | $675K | +3.7% |
Housing Supply in Kemp Mill, MD
How many homes are available in Kemp Mill, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 34 | +9.7% |
Summary: The Kemp Mill real estate market had 34 homes for sale in October 2024, a 9.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 8 | 14 | +75.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Kemp Mill 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 50%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 75%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 5 | -54.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kemp Mill, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Kemp Mill in October 2024, down by 54.5% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Kemp Mill, MD
How long does it take to sell a home in Kemp Mill, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 10 Days | 11 Days | +9.4% |
Summary: Homes in Kemp Mill had an average of 11 days on market in Oct 2024, up by 9.4% 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 Kemp Mill are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Kemp Mill; 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.
