Odenton MD Real Estate Market Report – November 13, 2024

Overhead view of a community in Odenton MD

As a real estate professional, it’s key to understand how different market metrics connect. Right now, the Months Supply of Inventory is 1.26, which points to a seller’s market where demand is higher than supply. This low inventory increases competition among buyers, often pushing prices up.

The 26% rise in Months of Inventory over the past year suggests the market might be shifting toward more balance. With more inventory, buyers could have more choices, which may help stabilize prices.

The Median Days on Market is just 19 days, showing a fast-paced market where homes sell quickly. This quick turnaround, driven by low inventory and high demand, means buyers need to act fast.

The List-to-Sold Price Ratio of 99.8% shows that properties sell close to their list prices, emphasizing a strong seller’s market. Sellers can expect offers near asking price, while buyers should prepare to make competitive bids.

Finally, the Median Sold Price of $492,500 shows the typical selling price, helping buyers and sellers see pricing trends in the area.

These metrics reveal a competitive market with low inventory, high demand, and quick sales. Both buyers and sellers need to be ready to move fast and work with a skilled agent to navigate this market.