Maryland has a sizzling real estate market, and the demand for houses is always high. With intense competition, homebuyers in Maryland are struggling to keep up with how fast homes are flying off the market.
On average, the hottest housing markets in Maryland have homes selling in just 9.6 days after hitting the market. Let’s take a look at the fastest selling areas in Maryland at the moment.
Prince Frederick
Due to its stunning parks, major shopping centers, and beautiful historic homes, Prince Fredrick ranks right at the top of the Maryland housing market. The demand is exceptionally high for this rich historic district, with a median selling price of $334,000.
The most sought-after neighborhoods in and around Prince Frederick include Buena Vista, Breezy Point, and anywhere near the town center. There’s everything from newly constructed homes with a private woodlot to quiet wooded areas with plenty of room.
La Plata
Located around the suburbs of Charles County, La Plata is becoming a more and more popular place to live. La Plata offers its residents a suburban feel and is prevalent with young professionals and families.
On average, houses in this area sell after 15 days and are currently at a median price of $404,000. The hottest homes in La Plaza sell for 1% above their list price, and many of them receive multiple offers.
Columbia
Home to a diverse community and only a 45-minute drive from Washington D.C., Columbia has always attracted people of all ages. Buyers are now eager than ever to become part of the community, with around 97% of real estate listings selling in under 30 days.
On average, homes in Columbia sell in 11 days, even with an above-average median price of $405,000. The most competitive homes in the market sell for 5% above list price.
Leonardtown
Leonardtown has everything from a rich history to wineries and galleries. It may be considered a quick getaway for Baltimore residents, but many families enjoy the friendly community and excellent schools.
The market may not be as fast as Columbia’s, but the most in-demand homes can sell for 3% above list price.
Chesapeake
Many people are dropping the metropolitan feel of Washington and Baltimore for a suburban touch, and Chesapeake is on the top of their list. As a city with clean air, excellent public parks, and lush forests, Chesapeake is a more habitable place for those who want to reconnect with nature.
The median price in Chesapeake is $335,000, with most houses selling after 20 days on the market.
Waldorf
Homes in Waldorf are the quickest selling in Maryland at an average of just 9 days. As a close-knit community with plenty of amenities, entertainment, and excellent schools, the median price is $381,000.
Charming estates and more secluded wooded areas have made Waldorf one of the most in-demand areas in Maryland.
Germantown
For those who want to stay within commuting distance of Washington D.C. and have the choice of townhouses, single-family homes, and condos, Hermantown is the place for them. With glorious national parks and first-class restaurants, Germantown is a hub for a lively suburban life.
Homes on the market only last 19 days with a median price of $356.000
Ellicott City
Elliot City is consistently ranked as one of the top suburbs to live in, and its housing market makes that clear. The demand is so high that the median price has reached $540,000, and even with prices this high, homes still sell after only 13 days on the market.
This is not just because Ellicott City is a historic district, but it has several art galleries, dining opportunities, and boutiques. It’s a perfect escape from the big city but only a 30-minute drive from Baltimore for those looking to commute.
Bowie
Around Bowie, buyers are paying 50% more for houses compared to the average American. As a large municipality with a suburban feel, the median house price is above average at $440,000. Even with prices above average, houses in Bowie only take 19 days on the market to sell.
Glen Burnie
Glen Burnie is a fantastic suburb of Baltimore that provides commuters with everything they need. It has a distinct feel to it with dozens of neighborhoods and a real community feel. It attracts many professionals and families with a median price of $335,000.
The market is very competitive in Glen Burnie, with many homes receiving multiple offers and the hottest homes selling 4% above list price.