$10,000 Closing Credit*
$988,000
5,018 SqFt
4 Beds
•4 Full Baths
Lisa Dawn Wood, Listing Office: O'Brien Realty ERA Powered
Is Solomons, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Solomons was a Buyer's Market.
Key Takeaway
Solomons is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Solomons, MD
How much do homes in Solomons, MD cost?
Median Sold Price
$509,900
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$122,425(+31.6%)
Key Takeaway
Homes in Solomons have sold for 31.6% more than they did a year ago.
Summary: The median home sold price in Solomons was $509,900 in November 2024, up 31.6% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $385.9K | $383.7K | -0.6% |
| 3 Bedrooms | $389K | $503.4K | +29.4% |
| 4 Bedrooms | $300K | $542.4K | +80.8% |
| 5+ Bedrooms | $700K | $1.5M | +114.9% |
Summary: Solomons 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 decreased by 0.6%, 3 bedroom homes increased by 29.4%, 4 bedroom homes increased by 80.8%, and 5+ bedroom homes increased by 114.9%.
Housing Supply in Solomons, MD
How many homes are available in Solomons, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 16 | -11.1% |
Summary: The Solomons real estate market had 16 homes for sale in November 2024, a 11.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Solomons housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Solomons, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Solomons in November 2024, the same as the previous month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Solomons, MD
How long does it take to sell a home in Solomons, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 61 Days | 19 Days | -68.9% |
Summary: Homes in Solomons had an average of 19 days on market in Nov 2024, down by 68.9% 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 Solomons are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Solomons; 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.
