Is Sandy Spring, 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, Sandy Spring has remained a Seller's Market.
Housing Prices in Sandy Spring, MD
How much do homes in Sandy Spring, MD cost?
Median Sold Price
$800,000
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Sandy Spring was $800,000 in May 2024, down 7.5% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $475K | N/A |
3 Bedrooms | $435K | $542.5K | +24.7% |
4 Bedrooms | $1.0M | $635K | -42.0% |
5+ Bedrooms | $1.1M | $1.2M | +14.1% |
Summary: Sandy Spring 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 did not change, 3 bedroom homes increased by 24.7%, 4 bedroom homes decreased by 42%, and 5+ bedroom homes increased by 14.1%.
Median Sold Price Compared To Nearby Cities
Ashton | $625K | $825K | +32.0% |
Sandy Spring | $865K | $800K | -7.5% |
Housing Supply in Sandy Spring, MD
How many homes are available in Sandy Spring, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 5 | -16.7% |
Summary: The Sandy Spring real estate market had 5 homes for sale in May 2024, a 16.7% decrease 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 | 0 | 0 | 0.0% |
3 Bedrooms | 1 | 1 | 0.0% |
4 Bedrooms | 2 | 3 | +50.0% |
5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Sandy Spring 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Sandy Spring in May 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Sandy Spring, MD
How long does it take to sell a home in Sandy Spring, MD?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
6 Days | 4 Days | -30.8% |
Summary: Homes in Sandy Spring had an average of 4 days on market in May 2024, down by 30.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Sandy Spring; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.