$5,908 Closing Credit*
$497,500
2,256 SqFt
3 Beds
•2 Full Baths, 1 Partial
Rachel Howard, Listing Office: Home Sales Advantage
Is Laurel, 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, Laurel has remained a Seller's Market.
Key Takeaway
Laurel is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Laurel, MD
How much do homes in Laurel, MD cost?
Median Sold Price
$460,000
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$627(-0.1%)
Key Takeaway
The sold price of homes in Laurel has remained the same since last year.
Summary: The median home sold price in Laurel was $460,000 in October 2024, down 0.1% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $198K | $207K | +4.5% |
| 2 Bedrooms | $280.5K | $300K | +7.0% |
| 3 Bedrooms | $439.9K | $450K | +2.3% |
| 4 Bedrooms | $552.1K | $567.6K | +2.8% |
| 5+ Bedrooms | $612.6K | $705.5K | +15.2% |
Summary: Laurel housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 15.2%.
Housing Supply in Laurel, MD
How many homes are available in Laurel, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 259 | 270 | +4.2% |
Summary: The Laurel real estate market had 270 homes for sale in October 2024, a 4.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 9 | +12.5% |
| 2 Bedrooms | 44 | 48 | +9.1% |
| 3 Bedrooms | 112 | 111 | -0.9% |
| 4 Bedrooms | 65 | 64 | -1.5% |
| 5+ Bedrooms | 30 | 38 | +26.7% |
Summary: The Laurel housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 9.1%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 90 | 71 | -21.1% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Laurel, you could pay more than the asking price. 49.3% of homes here sold above asking price last month.
Summary: A total of 71 homes were sold or pending in Laurel in October 2024, down by 21.1% month-over-month. Of the 71 sold homes, 24% were sold under asking, 27% were sold at asking, and 49% were sold over asking.
Days on Market for Laurel, MD
How long does it take to sell a home in Laurel, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 16 Days | +26.0% |
Summary: Homes in Laurel had an average of 16 days on market in Oct 2024, up by 26% compared to last year.
Breakdown of Home Sale Times
58 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Laurel are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 71 homes were sold in Laurel; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
