$3,800 Closing Credit*
$320,000
2,339 SqFt
3 Beds
•2 Full Baths, 1 Partial
Yorleen Palmer, Listing Office: Coldwell Banker Realty
Is Patterson Place, 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, 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
$312,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$27,050(+9.5%)
Key Takeaway
Homes in Patterson Place have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in Patterson Place was $312,000 in November 2024, up 9.5% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $153.5K | N/A |
| 2 Bedrooms | $234.5K | $280K | +19.4% |
| 3 Bedrooms | $279.7K | $320K | +14.4% |
| 4 Bedrooms | $362.5K | $475K | +31.0% |
| 5+ Bedrooms | $600K | - | N/A |
Summary: Patterson Place housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 31%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Patterson Place | $284.9K | $312K | +9.5% |
| East | $120K | $129.9K | +8.3% |
| Patterson Park | $286K | $292K | +2.1% |
| Southeast | $323.6K | $321.4K | -0.7% |
| McElderry Park | $129.9K | $125K | -3.8% |
Housing Supply in Patterson Place, MD
How many homes are available in Patterson Place, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Summary: The Patterson Place real estate market had 13 homes for sale in November 2024, a 8.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Patterson Place housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 37.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
2 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 Patterson Place, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Patterson Place in November 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 70 Days | +119.8% |
Summary: Homes in Patterson Place had an average of 70 days on market in Nov 2024, up by 119.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Patterson Place are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Patterson Place; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
