Upper Marlboro, MD Real Estate Market Report - August 2013

Upper Marlboro, MD Real Estate Market Report - August 2013

In August 2013 the total sold dollar volume on homes sold in Upper Marlboro, MD was $24,639,607.  There were a total of 91 homes sold in August and of those sold 12 (7.75%) were foreclosures and 27 (29.67%) were short sale properties.  Although almost 40% of the properties sold last month were bank-mediated sales, foreclosure sales declined by 36.8% and short sales were down by 12.9% from this time last year.

Inventory

There were a total of 258 homes for sale in Upper Marlboro, MD in August.  The number active listings increased by 6.6% since last month and declined by 20.8% from the same time last year. Of the homes listed for sale, foreclosures represent 7.75% and short sales account for 20.16%.  When doing a comparison of the number of bank-mediated properties that were on the market in August 2012 foreclosures are down by 31% and short sales have declined by 51.4%.

Median Sales Price

The median sales price in Upper Marlboro, MD was $235,000 (20772) and $240,000 (20774).  Sales prices in 20772 have increased by 1.08% since last month and 2.17% since August 2012 while prices in 20774 have seen a larger increases of 6.19% since July and 20% this same time last year.

Median Days on Market

The median days on market was 20 (20772) and 26 (20774).  In 20772 the number of days declined by 9% since July and 23% since August 2012 and median days in 20774 have declined by 11.5% since last month and 23% from the same time last year.

List Price vs. Sold Price

Homes were sold at 99.97% of list price in 20772 and 99.74% in 20774.  This means that homes in Upper Marlboro are being sold very close to list price.

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July Market Report - Upper Marlboro, MD 20774

July Upper Marlboro (20774) Market Report

Real Estate markets are always about supply and demand.  Rising inventory means there are more homes for buyers to choose from so they can more easily demand the price they want.  Declining inventory means buyers have fewer choices and sellers can be more demanding on the price they will accept.  The state of the economy over the past few years drove prices down sharply and buyers were like kids in a candy store and sellers had to practically jump up and down waving and screaming for someone to buy their home.  The tables have turned and inventory has declined an increasing number of homes are receiving multiple offers. 

Sales prices on homes sold in Upper Marlboro (20774) have seen a steady gain in the past year.  If you have been thinking about buying a home in Upper Marlboro you can still find deals but you need to act quickly because the best homes are selling fast! Having a good agent to guide you through this process is essential to helping you find the best deal. 

When hiring an agent to help you buy or sell a home you need to look for someone who knows and studies the current market trends, who is knowledgeable and has strong negotiation skills.  There are many Upper Marlboro real estate agents but not every agent is the same and choosing the wrong one could cost you thousands of dollars!

 20774 Real Estate Market Snapshot

Inventory

 

The number of homes for sale in Upper Marlboro declined by 3.6%  last month and 27.9% since July 2012.

Median Sold Price

 

Prices of homes sold declined 9.6%  this month with the median sales price decreasing from $250,000 in June to  $226,000 in July.  Although the median sales price declined over the past month prices on homes sold in Upper Marlboro are up 27% since July 2012.

Average Days on Market

The average number of days active listings were on the market was 104. This is a 131%  increase in days since June and a 79% increase since June 2012.  Although the average number has increased over the past month, 31%  of the homes sold in Upper Marlboro were sold in less than 10 days!

 

List Price vs. Sold Price

 
Homes were sold at 95.4% of list price in July.  This means homes are being sold close to asking price! 

Search for homes for sale in Upper Marlboro

Search Homes for sale in Upper Marlboro

 

To find out what your Upper Marlboro home is worth visit my website to request a FREE Market Analysis  of your home.  You can also sign up for monthly Market Insider Report to view information on market activity in your area, community and school information and more!

 Connect with me on:

June Market Report - Upper Marlboro, MD 20774

Real Estate markets are always about supply and demand.  Rising inventory means there are more homes for buyers to choose from so they can more easily demand the price they want.  Declining inventory means buyers have fewer choices and sellers can be more demanding on the price they will accept.  The state of the economy over the past few years drove prices down sharply and buyers were like kids in a candy store and sellers had to practically jump up and down waving and screaming for someone to buy their home.  The tables have turned and inventory has declined an increasing number of homes are receiving multiple offers. 

Sales prices on homes sold in Upper Marlboro (20774) have seen a steady gain in the past year and it is highly likely we will continue to see this trend over the next few months. If you have been thinking about buying a home in Upper Marlboro you can still find deals but you need to act quickly because the best homes are selling fast! Having a good agent to guide you through this process is essential to helping you find the best deal. 

When hiring an agent to help you buy or sell a home you need to look for someone who knows and studies the current market trends, who is knowledgeable and has strong negotiation skills.  There are many Upper Marlboro real estate agents but not every agent is the same and choosing the wrong one could cost you thousands of dollars.

 

20774 Real Estate Market Snapshot

Inventory

The number of homes for sale in Upper Marlboro increased 4.8% last month and dropped 32.2% since June 2012.

Median Sold Price

Prices of homes sold remained steady this month with the median sales price at $250,000 for both May and June.  Since June 2012 we have seen a 41.8% increase in price.

Average Days on Market

The average number of days active listings were on the market was 45. This is a 10% decline in days since May and a 40% decline since June 2012.  Of the homes sold last month 32.3% were sold in less than 10 days!

 

List Price vs. Sold Price

Homes were sold at 99% of list price in June.  This means homes are being sold almost at asking price!

Search for homes for sale in Upper Marlboro

To find out what your Upper Marlboro home is worth visit my website to request a FREE Market Analysis  of your home.  You can also sign up for monthly Market Insider Report to view information on market activity in your area, community and school information and more!