Is Patterson Place, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Patterson Place was a Seller's Market.
Housing Prices in Patterson Place, MD
How much do homes in Patterson Place, MD cost?
Median Sold Price
$301,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Patterson Place was $301,000 in May 2024, up 7.5% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $173.7K | $265K | +52.5% |
3 Bedrooms | $295K | $309K | +4.7% |
4 Bedrooms | $340K | $410K | +20.6% |
5+ Bedrooms | $635K | $565K | -11.0% |
Summary: Patterson Place housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 52.5%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes decreased by 11%.
Median Sold Price Compared To Nearby Neighborhoods
Patterson Park | $270K | $299.7K | +11.0% |
Patterson Place | $280K | $301K | +7.5% |
Southeast | $316K | $325K | +2.9% |
East | $143.9K | $123.6K | -14.1% |
Housing Supply in Patterson Place, MD
How many homes are available in Patterson Place, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 19 | +46.2% |
Summary: The Patterson Place real estate market had 19 homes for sale in May 2024, a 46.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 7 | 11 | +57.1% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Patterson Place housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 57.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Patterson Place in May 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Patterson Place, MD
How long does it take to sell a home in Patterson Place, MD?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 1 Days | -87.0% |
Summary: Homes in Patterson Place had an average of 1 days on market in May 2024, down by 87% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Patterson Place; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.