Is College Park, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, College Park has remained a Seller's Market.
Housing Prices in College Park, MD
How much do homes in College Park, MD cost?
Median Sold Price
$451,000
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in College Park was $451,000 in May 2024, up 10% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $146.9K | -10.9% |
2 Bedrooms | $197.4K | $184K | -6.8% |
3 Bedrooms | $372.4K | $444.5K | +19.3% |
4 Bedrooms | $445K | $490.5K | +10.2% |
5+ Bedrooms | $470K | $492.5K | +4.8% |
Summary: College Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.9%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Cities
Riverdale Park | $465K | $572.5K | +23.1% |
College Park | $410K | $451K | +10.0% |
Greenbelt | $226K | $244.7K | +8.3% |
Berwyn Heights | $420K | $451.5K | +7.5% |
Housing Supply in College Park, MD
How many homes are available in College Park, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
51 | 66 | +29.4% |
Summary: The College Park real estate market had 66 homes for sale in May 2024, a 29.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 6 | -14.3% |
2 Bedrooms | 13 | 14 | +7.7% |
3 Bedrooms | 10 | 18 | +80.0% |
4 Bedrooms | 9 | 14 | +55.6% |
5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The College Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 80%, 4 bedroom homes increased by 55.6%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 13 | +30.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in College Park in May 2024, up by 30.0% month-over-month. Of the 13 sold homes, 0% were sold under asking, 23% were sold at asking, and 77% were sold over asking.
Days on Market for College Park, MD
How long does it take to sell a home in College Park, MD?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 22 Days | +35.0% |
Summary: Homes in College Park had an average of 22 days on market in May 2024, up by 35% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 13 homes were sold in College Park; 92% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.