$3,206 Closing Credit*
$270,000
1,296 SqFt
3 Beds
•1 Full Bath
Brent Daniel Housley, Listing Office: Railey Realty, Inc.
Is Oakland, 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, Oakland has remained a Buyer's Market.
Key Takeaway
Oakland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Oakland, MD
How much do homes in Oakland, MD cost?
Median Sold Price
$375,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$60,000(+19.0%)
Key Takeaway
Homes in Oakland have sold for 19% more than they did a year ago.
Summary: The median home sold price in Oakland was $375,000 in November 2024, up 19% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $299.4K | +36.1% |
| 2 Bedrooms | $215.5K | $290K | +34.6% |
| 3 Bedrooms | $270.5K | $297K | +9.8% |
| 4 Bedrooms | $550K | $389.9K | -29.1% |
| 5+ Bedrooms | $610K | $1.0M | +66.3% |
Summary: Oakland housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.1%, 2 bedroom homes increased by 34.6%, 3 bedroom homes increased by 9.8%, 4 bedroom homes decreased by 29.1%, and 5+ bedroom homes increased by 66.3%.
Median Sold Price Compared To Nearby Cities
| Oakland | $315K | $375K | +19.0% |
| Mountain Lake Park | $194.9K | $211K | +8.2% |
Housing Supply in Oakland, MD
How many homes are available in Oakland, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 103 | 97 | -5.8% |
Summary: The Oakland real estate market had 97 homes for sale in November 2024, a 5.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 39 | 35 | -10.3% |
| 4 Bedrooms | 22 | 20 | -9.1% |
| 5+ Bedrooms | 27 | 28 | +3.7% |
Summary: The Oakland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 3.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 10 | -52.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland, you may be able to get a good deal. 90% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Oakland in November 2024, down by 52.4% month-over-month. Of the 10 sold homes, 90% were sold under asking, 10% were sold at asking, and 0% were sold over asking.
Days on Market for Oakland, MD
How long does it take to sell a home in Oakland, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 78 Days | +113.1% |
Summary: Homes in Oakland had an average of 78 days on market in Nov 2024, up by 113.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Oakland has remained consistent over time.
Summary: During November 2024, 10 homes were sold in Oakland; 30% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
