$4,750 Closing Credit*
$400,000
1,284 SqFt
3 Beds
•2 Full Baths
Gloria C Hairston, Listing Office: Express Brokers Realty LLC
Is South Laurel, 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, South Laurel has remained a Seller's Market.
Key Takeaway
South Laurel is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Laurel, MD
How much do homes in South Laurel, MD cost?
Median Sold Price
$505,000
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$55,000(+12.2%)
Key Takeaway
Homes in South Laurel have sold for 12.2% more than they did a year ago.
Summary: The median home sold price in South Laurel was $505,000 in November 2024, up 12.2% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $225K | +4.7% |
| 2 Bedrooms | $285K | $295K | +3.5% |
| 3 Bedrooms | $400K | $430K | +7.5% |
| 4 Bedrooms | $528K | $525K | -0.6% |
| 5+ Bedrooms | $555K | $630K | +13.5% |
Summary: South Laurel housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 13.5%.
Housing Supply in South Laurel, MD
How many homes are available in South Laurel, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 30 | -9.1% |
Summary: The South Laurel real estate market had 30 homes for sale in November 2024, a 9.1% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 13 | 10 | -23.1% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The South Laurel 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 remained the same, 3 bedroom homes decreased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Laurel, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in South Laurel in November 2024, up by 9.1% month-over-month. Of the 12 sold homes, 42% were sold under asking, 25% were sold at asking, and 33% were sold over asking.
Days on Market for South Laurel, MD
How long does it take to sell a home in South Laurel, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 20 Days | +48.7% |
Summary: Homes in South Laurel had an average of 20 days on market in Nov 2024, up by 48.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in South Laurel are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 12 homes were sold in South Laurel; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
