$7,066 Closing Credit*
$595,000
1,714 SqFt
2 Beds
•2 Full Baths, 1 Partial
Jean M Bourne-Pirovic, Listing Office: Long & Foster Real Estate, Inc.
Is Redland, 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, Redland has remained a Seller's Market.
Key Takeaway
Redland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Redland, MD
How much do homes in Redland, MD cost?
Median Sold Price
$591,750
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,750(+1.3%)
Key Takeaway
Homes in Redland have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Redland was $591,750 in October 2024, up 1.3% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $680K | - | N/A |
| 2 Bedrooms | $290K | $300K | +3.4% |
| 3 Bedrooms | $470K | $490K | +4.3% |
| 4 Bedrooms | $630K | $650K | +3.2% |
| 5+ Bedrooms | $678K | $717.7K | +5.9% |
Summary: Redland 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 3.4%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 5.9%.
Housing Supply in Redland, MD
How many homes are available in Redland, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 | 58 | +16.0% |
Summary: The Redland real estate market had 58 homes for sale in October 2024, a 16.0% 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 | 2 | -33.3% |
| 3 Bedrooms | 24 | 28 | +16.7% |
| 4 Bedrooms | 19 | 21 | +10.5% |
| 5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The Redland 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 decreased by 33.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redland, you could pay more than the asking price. 46.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Redland in October 2024, up by 25.0% month-over-month. Of the 15 sold homes, 33% were sold under asking, 20% were sold at asking, and 47% were sold over asking.
Days on Market for Redland, MD
How long does it take to sell a home in Redland, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 22 Days | -7.9% |
Summary: Homes in Redland had an average of 22 days on market in Oct 2024, down by 7.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Redland are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in Redland; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
