$9,251 Closing Credit*
$779,000
2,670 SqFt
6 Beds
•3 Full Baths, 1 Partial
Dixie L Meadows, Listing Office: RE/MAX Professionals
Is University 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, University Park has remained a Seller's Market.
Key Takeaway
University Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in University Park, MD
How much do homes in University Park, MD cost?
Median Sold Price
$740,000
$340/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$40,000(+5.7%)
Key Takeaway
Homes in University Park have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in University Park was $740,000 in October 2024, up 5.7% from last year, and the median price per square foot was $340.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $545K | - | N/A |
| 3 Bedrooms | $503K | $705K | +40.2% |
| 4 Bedrooms | $800K | $755K | -5.6% |
| 5+ Bedrooms | $782.5K | $800K | +2.2% |
Summary: University Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 40.2%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
| Riverdale Park | $500K | $575K | +15.0% |
| College Park | $427.5K | $459K | +7.4% |
| University Park | $700K | $740K | +5.7% |
Housing Supply in University Park, MD
How many homes are available in University Park, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Summary: The University Park real estate market had 9 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The University 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 remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in University Park, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in University Park in October 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for University Park, MD
How long does it take to sell a home in University Park, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 5 Days | 39 Days | +693.3% |
Summary: Homes in University Park had an average of 39 days on market in Oct 2024, up by 693.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in University Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in University Park; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
