Is Jessup, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Jessup was a Seller's Market.
Housing Prices in Jessup, MD
How much do homes in Jessup, MD cost?
Median Sold Price
$494,500
$247/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Jessup was $494,500 in May 2024, up 6% from last year, and the median price per square foot was $247.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $350K | $405K | +15.7% |
3 Bedrooms | $444.7K | $470K | +5.7% |
4 Bedrooms | $490K | $630K | +28.6% |
5+ Bedrooms | $764.9K | $770K | +0.7% |
Summary: Jessup housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 0.7%.
Median Sold Price Compared To Nearby Cities
Jessup | $466.5K | $494.5K | +6.0% |
Hanover | $513K | $525K | +2.3% |
Housing Supply in Jessup, MD
How many homes are available in Jessup, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 32 | +23.1% |
Summary: The Jessup real estate market had 32 homes for sale in May 2024, a 23.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 6 | +50.0% |
3 Bedrooms | 11 | 14 | +27.3% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Jessup housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 5 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Jessup in May 2024, down by 50.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Jessup, MD
How long does it take to sell a home in Jessup, MD?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 12 Days | +4.0% |
Summary: Homes in Jessup had an average of 12 days on market in May 2024, up by 4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Jessup; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.