Is Kemp Mill, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kemp Mill is a neutral'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

# BEDSOct 2023Oct 2024CHANGE
1 $165.5K$165K
-0.3%
2 $193.8K$219K
+13.0%
3 $537.5K$575K
+7.0%
4 $598.7K$605K
+1.0%
5+ $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
+9.0%
Kemp Mill
+5.3%
Four Corners
+3.7%

Housing Supply in Kemp Mill, MD

How many homes are available in Kemp Mill, MD?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3134+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

# BEDSSep 2024Oct 2024CHANGE
1 55
0.0%
2 42
-50.0%
3 87
-12.5%
4 814
+75.0%
5+ 66
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 2024Oct 2024CHANGE
115-54.5%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

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 2023Oct 2024CHANGE
10 Days11 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Kemp Mill, MD

Nearby Markets to Kemp Mill, MD