$2,374 Closing Credit*
$199,900
1,436 SqFt
3 Beds
•2 Full Baths, 1 Partial
Jose A Salazar, Listing Office: Samson Properties
Is Southwest, 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, Southwest was a Seller's Market.
Key Takeaway
Southwest is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southwest, MD
How much do homes in Southwest, MD cost?
Median Sold Price
$148,195
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$1,695(-1.1%)
Key Takeaway
Homes in Southwest have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Southwest was $148,195 in November 2024, down 1.1% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61.6K | $153K | +148.4% |
| 2 Bedrooms | $133.9K | $100K | -25.3% |
| 3 Bedrooms | $133.8K | $131K | -2.0% |
| 4 Bedrooms | $224K | $237K | +5.8% |
| 5+ Bedrooms | $250K | $301K | +20.4% |
Summary: Southwest housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 148.4%, 2 bedroom homes decreased by 25.3%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 20.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Allendale | $130K | $180K | +38.5% |
| Southwest | $149.8K | $148.1K | -1.1% |
Housing Supply in Southwest, MD
How many homes are available in Southwest, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 461 | 489 | +6.1% |
Summary: The Southwest real estate market had 489 homes for sale in November 2024, a 6.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 8 | +60.0% |
| 2 Bedrooms | 130 | 137 | +5.4% |
| 3 Bedrooms | 218 | 230 | +5.5% |
| 4 Bedrooms | 85 | 88 | +3.5% |
| 5+ Bedrooms | 23 | 26 | +13.0% |
Summary: The Southwest housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 13%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 77 | 67 | -13.0% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you could pay more than the asking price. 38.8% of homes here sold above asking price last month.
Summary: A total of 67 homes were sold or pending in Southwest in November 2024, down by 13.0% month-over-month. Of the 67 sold homes, 37% were sold under asking, 24% were sold at asking, and 39% were sold over asking.
Days on Market for Southwest, MD
How long does it take to sell a home in Southwest, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 37 Days | 43 Days | +16.0% |
Summary: Homes in Southwest had an average of 43 days on market in Nov 2024, up by 16% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 67 homes were sold in Southwest; 52% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
