$7,933 Closing Credit*
$668,000
3,716 SqFt
5 Beds
•3 Full Baths, 1 Partial
Anthony Mason, Listing Office: Keller Williams Preferred Properties
Is Lake Arbor, 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, Lake Arbor has remained a Seller's Market.
Key Takeaway
Lake Arbor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Arbor, MD
How much do homes in Lake Arbor, MD cost?
Median Sold Price
$402,000
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,050(+8.7%)
Key Takeaway
Homes in Lake Arbor have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Lake Arbor was $402,000 in October 2024, up 8.7% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $189.9K | $187K | -1.6% |
| 2 Bedrooms | $260K | $284K | +9.2% |
| 3 Bedrooms | $387K | $397.5K | +2.7% |
| 4 Bedrooms | $554.5K | $545K | -1.7% |
| 5+ Bedrooms | $591K | $645K | +9.1% |
Summary: Lake Arbor housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes increased by 9.1%.
Housing Supply in Lake Arbor, MD
How many homes are available in Lake Arbor, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Summary: The Lake Arbor real estate market had 24 homes for sale in October 2024, a 9.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Lake Arbor 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 14.3%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Arbor, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Lake Arbor in October 2024, down by 12.5% month-over-month. Of the 7 sold homes, 29% were sold under asking, 57% were sold at asking, and 14% were sold over asking.
Days on Market for Lake Arbor, MD
How long does it take to sell a home in Lake Arbor, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 17 Days | +11.3% |
Summary: Homes in Lake Arbor had an average of 17 days on market in Oct 2024, up by 11.3% compared to last year.
Breakdown of Home Sale Times
6 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 Lake Arbor are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Lake Arbor; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
