$2,018 Closing Credit*
$169,900
960 SqFt
3 Beds
•1 Full Bath, 1 Partial
Angie M Brzozowski, Listing Office: Long & Foster Real Estate, Inc.
Is Patterson Place, 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, Patterson Place has remained a Seller's Market.
Key Takeaway
Patterson Place is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Patterson Place, MD
How much do homes in Patterson Place, MD cost?
Median Sold Price
$300,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$8,750(+3.0%)
Key Takeaway
Homes in Patterson Place have sold for 3% more than they did a year ago.
Summary: The median home sold price in Patterson Place was $300,000 in October 2024, up 3% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $153.5K | N/A |
| 2 Bedrooms | $234.5K | $270K | +15.1% |
| 3 Bedrooms | $293.7K | $315K | +7.2% |
| 4 Bedrooms | $362.5K | $475K | +31.0% |
| 5+ Bedrooms | $600K | - | N/A |
Summary: Patterson Place 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 15.1%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 31%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| East | $123.6K | $128.8K | +4.2% |
| Patterson Place | $291.2K | $300K | +3.0% |
| Patterson Park | $286K | $290K | +1.4% |
| Southeast | $322.4K | $321.5K | -0.3% |
| McElderry Park | $130K | $125K | -3.8% |
Housing Supply in Patterson Place, MD
How many homes are available in Patterson Place, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Summary: The Patterson Place real estate market had 14 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Patterson Place housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Patterson Place, 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 Patterson Place in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 38 Days | 24 Days | -36.8% |
Summary: Homes in Patterson Place had an average of 24 days on market in Oct 2024, down by 36.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Patterson Place are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Patterson Place; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
