$7,801 Closing Credit*
$656,888
2,208 SqFt
3 Beds
•3 Full Baths, 1 Partial
Kathleen Cassidy, Listing Office: DRH Realty Capital, LLC.
Is Laurel, 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, 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
$461,801
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$2,898(-0.6%)
Key Takeaway
Homes in Laurel have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in Laurel was $461,801 in November 2024, down 0.6% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $198K | $200K | +1.0% |
| 2 Bedrooms | $280K | $300K | +7.1% |
| 3 Bedrooms | $444K | $450K | +1.3% |
| 4 Bedrooms | $550K | $575K | +4.5% |
| 5+ Bedrooms | $620K | $705.5K | +13.8% |
Summary: Laurel housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 13.8%.
Housing Supply in Laurel, MD
How many homes are available in Laurel, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 244 | 253 | +3.7% |
Summary: The Laurel real estate market had 253 homes for sale in November 2024, a 3.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 9 | +12.5% |
| 2 Bedrooms | 45 | 45 | 0.0% |
| 3 Bedrooms | 98 | 107 | +9.2% |
| 4 Bedrooms | 62 | 63 | +1.6% |
| 5+ Bedrooms | 31 | 29 | -6.5% |
Summary: The Laurel housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 6.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 76 | 62 | -18.4% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Laurel, you could pay more than the asking price. 45.2% of homes here sold above asking price last month.
Summary: A total of 62 homes were sold or pending in Laurel in November 2024, down by 18.4% month-over-month. Of the 62 sold homes, 34% were sold under asking, 21% were sold at asking, and 45% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 16 Days | -12.2% |
Summary: Homes in Laurel had an average of 16 days on market in Nov 2024, down by 12.2% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Laurel are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 62 homes were sold in Laurel; 81% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
