$652 Closing Credit*
$54,900
3 Beds
•1 Full Bath
Kaili Nichols, Listing Office: Elysian Residential Brokerage, Inc.
Is Penrose / Fayette Street Outreach, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Penrose / Fayette Street Outreach was a Neutral Market.
Key Takeaway
Penrose / Fayette Street Outreach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Penrose / Fayette Street Outreach, MD
How much do homes in Penrose / Fayette Street Outreach, MD cost?
Median Sold Price
$66,750
$72/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$4,750(-6.6%)
Key Takeaway
Homes in Penrose / Fayette Street Outreach have sold for 6.6% less than they did a year ago.
Summary: The median home sold price in Penrose / Fayette Street Outreach was $66,750 in October 2024, down 6.6% from last year, and the median price per square foot was $72.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $28K | $33.5K | +19.6% |
| 3 Bedrooms | $64.5K | $67K | +3.9% |
| 4 Bedrooms | $170K | $134K | -21.2% |
| 5+ Bedrooms | $113.2K | $220K | +94.2% |
Summary: Penrose / Fayette Street Outreach 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 19.6%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 21.2%, and 5+ bedroom homes increased by 94.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Shipley Hill | $35K | $51.9K | +48.3% |
| Penrose / Fayette Street Outreach | $71.5K | $66.7K | -6.6% |
Housing Supply in Penrose / Fayette Street Outreach, MD
How many homes are available in Penrose / Fayette Street Outreach, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 37 | +5.7% |
Summary: The Penrose / Fayette Street Outreach real estate market had 37 homes for sale in October 2024, a 5.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 27 | 23 | -14.8% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Penrose / Fayette Street Outreach housing inventory by bedroom type for October 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 decreased by 14.8%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 2 | -80.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Penrose / Fayette Street Outreach, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Penrose / Fayette Street Outreach in October 2024, down by 80.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Penrose / Fayette Street Outreach, MD
How long does it take to sell a home in Penrose / Fayette Street Outreach, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 57 Days | +131.1% |
Summary: Homes in Penrose / Fayette Street Outreach had an average of 57 days on market in Oct 2024, up by 131.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Penrose / Fayette Street Outreach has remained consistent over time.
Summary: During October 2024, 2 homes were sold in Penrose / Fayette Street Outreach; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
