$4,026 Closing Credit*
$339,000
1,648 SqFt
4 Beds
•2 Full Baths, 2 Partial
Andrew Undem, Listing Office: Berkshire Hathaway HomeServices Homesale Realty
Is South, 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, South was a Seller's Market.
Key Takeaway
South is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in South, MD
How much do homes in South, MD cost?
Median Sold Price
$300,200
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$16,866(+6.0%)
Key Takeaway
Homes in South have sold for 6% more than they did a year ago.
Summary: The median home sold price in South was $300,200 in October 2024, up 6% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $218K | -5.2% |
| 2 Bedrooms | $272.5K | $285K | +4.6% |
| 3 Bedrooms | $274.2K | $315K | +14.9% |
| 4 Bedrooms | $400K | $495K | +23.8% |
| 5+ Bedrooms | $429.2K | $330K | -23.1% |
Summary: South housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.2%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes decreased by 23.1%.
Housing Supply in South, MD
How many homes are available in South, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 240 | 284 | +18.3% |
Summary: The South real estate market had 284 homes for sale in October 2024, a 18.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 84 | 103 | +22.6% |
| 3 Bedrooms | 122 | 135 | +10.7% |
| 4 Bedrooms | 27 | 35 | +29.6% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The South housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 22.6%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 29.6%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 38 | 44 | +15.8% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 44 homes were sold or pending in South in October 2024, up by 15.8% month-over-month. Of the 44 sold homes, 34% were sold under asking, 20% were sold at asking, and 45% were sold over asking.
Days on Market for South, MD
How long does it take to sell a home in South, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 28 Days | +20.8% |
Summary: Homes in South had an average of 28 days on market in Oct 2024, up by 20.8% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 44 homes were sold in South; 75% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
