Is Bowie, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Bowie has remained a Seller's Market.
Key Takeaway
Bowie is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bowie, MD
How much do homes in Bowie, MD cost?
Median Sold Price
$490,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Bowie have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Bowie was $490,000 in April 2024, up 6.5% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $186K | $181.9K | -2.2% |
| 2 Bedrooms | $300K | $310.2K | +3.4% |
| 3 Bedrooms | $430K | $460K | +7.0% |
| 4 Bedrooms | $493.2K | $525K | +6.4% |
| 5+ Bedrooms | $670K | $655.7K | -2.1% |
Summary: Bowie housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes decreased by 2.1%.
Median Sold Price Compared To Nearby Cities
| Davidsonville | $867.5K | $926K | +6.7% |
| Bowie | $460.2K | $490K | +6.5% |
Housing Supply in Bowie, MD
How many homes are available in Bowie, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 263 | 262 | -0.4% |
Summary: The Bowie real estate market had 262 homes for sale in April 2024, a 0.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 23 | 21 | -8.7% |
| 3 Bedrooms | 87 | 87 | 0.0% |
| 4 Bedrooms | 113 | 112 | -0.9% |
| 5+ Bedrooms | 39 | 40 | +2.6% |
Summary: The Bowie housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 8.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 2.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 97 | 65 | -33.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bowie, you could pay more than the asking price. 50.8% of homes here sold above asking price last month.
Summary: A total of 65 homes were sold or pending in Bowie in April 2024, down by 33.0% month-over-month. Of the 65 sold homes, 22% were sold under asking, 28% were sold at asking, and 51% were sold over asking.
Days on Market for Bowie, MD
How long does it take to sell a home in Bowie, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 18 Days | -31.2% |
Summary: Homes in Bowie had an average of 18 days on market in Apr 2024, down by 31.2% compared to last year.
Breakdown of Home Sale Times
53 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bowie are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 65 homes were sold in Bowie; 82% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
