$7,659 Closing Credit*
$645,000
1,990 SqFt
4 Beds
•3 Full Baths, 1 Partial
Joseph Obeid, Listing Office: Samson Properties
Is Olney, 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, Olney has remained a Seller's Market.
Key Takeaway
Olney is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Olney, MD
How much do homes in Olney, MD cost?
Median Sold Price
$651,000
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$1,000(+0.2%)
Key Takeaway
The sold price of homes in Olney has remained the same since last year.
Summary: The median home sold price in Olney was $651,000 in November 2024, up 0.2% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $159K | +6.0% |
| 2 Bedrooms | $315K | $324.1K | +2.9% |
| 3 Bedrooms | $524.9K | $531K | +1.2% |
| 4 Bedrooms | $715K | $755K | +5.6% |
| 5+ Bedrooms | $855K | $875K | +2.3% |
Summary: Olney housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 2.3%.
Housing Supply in Olney, MD
How many homes are available in Olney, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 75 | 64 | -14.7% |
Summary: The Olney real estate market had 64 homes for sale in November 2024, a 14.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 27 | 23 | -14.8% |
| 4 Bedrooms | 26 | 15 | -42.3% |
| 5+ Bedrooms | 14 | 18 | +28.6% |
Summary: The Olney housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 14.8%, 4 bedroom homes decreased by 42.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 18 | -45.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olney, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Olney in November 2024, down by 45.5% month-over-month. Of the 18 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.
Days on Market for Olney, MD
How long does it take to sell a home in Olney, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 11 Days | 14 Days | +22.5% |
Summary: Homes in Olney had an average of 14 days on market in Nov 2024, up by 22.5% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olney are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 18 homes were sold in Olney; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
