$10,000 Closing Credit*
$874,900
1,481 SqFt
4 Beds
•3 Full Baths
Deborah K Berger, Listing Office: RE/MAX Town Center
Is Takoma Park, 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, Takoma Park has remained a Seller's Market.
Key Takeaway
Takoma Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Takoma Park, MD
How much do homes in Takoma Park, MD cost?
Median Sold Price
$715,000
$372/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$49,000(+7.4%)
Key Takeaway
Homes in Takoma Park have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Takoma Park was $715,000 in October 2024, up 7.4% from last year, and the median price per square foot was $372.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $192K | $195K | +1.6% |
| 2 Bedrooms | $262K | $249.5K | -4.8% |
| 3 Bedrooms | $666K | $674K | +1.2% |
| 4 Bedrooms | $778.5K | $795K | +2.1% |
| 5+ Bedrooms | $1.0M | $1.1M | +11.9% |
Summary: Takoma Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.6%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 11.9%.
Housing Supply in Takoma Park, MD
How many homes are available in Takoma Park, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 53 | 66 | +24.5% |
Summary: The Takoma Park real estate market had 66 homes for sale in October 2024, a 24.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 20 | 29 | +45.0% |
| 5+ Bedrooms | 8 | 12 | +50.0% |
Summary: The Takoma Park 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 20%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 45%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 12 | +71.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Takoma Park, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Takoma Park in October 2024, up by 71.4% month-over-month. Of the 12 sold homes, 33% were sold under asking, 8% were sold at asking, and 58% were sold over asking.
Days on Market for Takoma Park, MD
How long does it take to sell a home in Takoma Park, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 15 Days | +18.9% |
Summary: Homes in Takoma Park had an average of 15 days on market in Oct 2024, up by 18.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Takoma Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Takoma Park; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
