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The Maryland Zip Codes Where Homes Are Selling Above Asking

by Shilpi Paul

The Maryland Zip Codes Where Homes Are Selling Above Asking: Figure 1
A home under contract in 20851

Last week, UrbanTurf looked into the zip codes in DC where homes on the market have been selling above their original asking prices this year.

Today, we take a look at the nearby Maryland zip codes where homebuyers are likely paying above asking price.

For the five Maryland zip codes below, homes on the market have, on average, been selling above or just below their original list price, in 2013. The second-to-last column in the table reveals the sale-to-original list price ratio; anything over 100 percent means that sales prices were trending higher than asking prices.

The Maryland Zip Codes Where Homes Are Selling Above Asking: Figure 2
Note: Only a sampling of areas are included for each zip code.

The overwhelming takeaway from the data is that the market in Hyattsville is quite active. However, though three Hyattsville zip codes made the list, the median price actually dropped compared to last year in all three areas. By contrast, prices in Rockville’s 20851 shot up by 36.4 percent, year-over-year.

Here are a few other takeaways from the table:

  • Only three Maryland zip codes have broken the 100 percent ratio barrier so far in 2013, compared to six in DC.
  • Though buyers are paying above the list price in the zip codes mentioned, they are paying far less (on average) than their DC counterparts. The highest median price for Maryland is $336,192 in Rockville, compared with $542,500 in DC’s 20010 zip code.

Next week, we’ll look at the Virginia zip codes where buyers are likely paying above asking price.

For this article, UrbanTurf used year-to-date data provided by RealEstate Business Intelligence.

This article originally published at http://dc.urbanturf.com/articles/blog/top_5_maryland_zip_codes_where_homes_are_selling_at_or_above_asking/7826

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