$1,395 Closing Credit*
$117,500
1,050 SqFt
2 Beds
•1 Full Bath
Keith J French, Listing Office: Blue Star Real Estate, LLC
Is Morrell Park, 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, Morrell Park has remained a Seller's Market.
Key Takeaway
Morrell Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morrell Park, MD
How much do homes in Morrell Park, MD cost?
Median Sold Price
$131,250
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,700(+11.7%)
Key Takeaway
Homes in Morrell Park have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Morrell Park was $131,250 in October 2024, up 11.7% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $100K | $125.4K | +25.5% |
| 3 Bedrooms | $132.7K | $138.3K | +4.2% |
| 4 Bedrooms | $165.5K | $151K | -8.8% |
| 5+ Bedrooms | $188.5K | $215K | +14.1% |
Summary: Morrell Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes increased by 14.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Lakeland | $128K | $144K | +12.5% |
| Morrell Park | $117.5K | $131.2K | +11.7% |
Housing Supply in Morrell Park, MD
How many homes are available in Morrell Park, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 13 | -23.5% |
Summary: The Morrell Park real estate market had 13 homes for sale in October 2024, a 23.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Morrell Park 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 22.2%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrell Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Morrell Park in October 2024, down by 42.9% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Morrell Park, MD
How long does it take to sell a home in Morrell Park, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 45 Days | +276.3% |
Summary: Homes in Morrell Park had an average of 45 days on market in Oct 2024, up by 276.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Morrell Park has remained consistent over time.
Summary: During October 2024, 4 homes were sold in Morrell Park; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
