Living in University Park, MD
University Park, MD is a charming suburban community just outside Washington, D.C. Known for its strong sense of community and excellent educational institutions, it offers a peaceful retreat with easy access to urban amenities. The area features ample parks, local shops, and a friendly neighborhood atmosphere.
Current Market Conditions in University Park, MD
The real estate market in University Park is currently experiencing a steady demand, with home prices reflecting the area's desirable location near Washington D.C. and the University of Maryland. As a result, prospective buyers are finding themselves in a competitive market, where homes do not remain on the market for long. The inventory is balanced, with a mixture of historic homes and newer constructions appealing to a variety of buyers.
In recent months, there has been an uptick in investment in the area, particularly in properties that provide opportunities for renovation or expansion. As more families seek suburban living with proximity to urban amenities, University Park shows signs of sustained appreciation in property values.
Home Value Estimator For University Park, MD
There are currently 921 real estate properties
in University Park, MD,
with a median automated valuation model (AVM) price
of $687,831.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in University Park, MD, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in University Park, MD,
is $697,345.00, with the most expensive house
in University Park, MD, topping out
at $4,086,875.00 and the cheapest home
in University Park, MD,
clocking in at $118,600.00. In other words, there’s
something for every potential homebuyer
or savvy investor in University Park, MD!
Rent Prices
In University Park, MD
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in University Park, MD, is on
a rollercoaster ride. The
average rent price in University Park, MD,
is $2,504.00. Indeed, when looking to rent in
University Park, MD, you can expect to pay as little
as $1,650.00 or as much
as $4,020.00,
with the average rent median estimated to
be $2,450.00. The good news is that finding
an affordable and desirable property to rent in University Park, MD
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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