$5,699 Closing Credit*
$479,900
1,933 SqFt
4 Beds
•2 Full Baths
Russell E Chandler, Listing Office: Redfin Corp
Is South Laurel, 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, 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
$500,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$50,000(+11.1%)
Key Takeaway
Homes in South Laurel have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in South Laurel was $500,000 in October 2024, up 11.1% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $225K | +4.7% |
| 2 Bedrooms | $285K | $290K | +1.8% |
| 3 Bedrooms | $414.9K | $418.6K | +0.9% |
| 4 Bedrooms | $517K | $526.5K | +1.8% |
| 5+ Bedrooms | $545K | $631K | +15.8% |
Summary: South Laurel housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 15.8%.
Housing Supply in South Laurel, MD
How many homes are available in South Laurel, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 40 | +42.9% |
Summary: The South Laurel real estate market had 40 homes for sale in October 2024, a 42.9% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 9 | 14 | +55.6% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The South Laurel 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 100%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 55.6%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
3 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 could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in South Laurel in October 2024, up by 42.9% month-over-month. Of the 10 sold homes, 30% were sold under asking, 30% were sold at asking, and 40% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 13 Days | -17.7% |
Summary: Homes in South Laurel had an average of 13 days on market in Oct 2024, down by 17.7% compared to last year.
Breakdown of Home Sale Times
9 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 South Laurel are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in South Laurel; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
