The median home in Lanham, MD (ZIP 20706) sold for $450,000 over the 12 months ended June 30, 2026, based on 290 closed residential sales in Bright MLS. The average sale price was $471,259, the median home went under contract in 16 days, and closed sales averaged 100.98% of list price. Against the same period a year earlier, the median sale price was 2.2% lower.
Source: Bright MLS, 290 closed residential sales, ZIP code 20706, Prince George’s County, MD, for the 12 months ended June 30, 2026. Retrieved 28 July 2026 by Carole Webb, Samson Properties. Year-over-year compares the median sale price with the 12 months ended June 30, 2025.
Lanham is the most affordable of the six markets on this site and has the oldest housing stock — a median property age of 53 years. That combination makes it one of the strongest entry points for first-time buyers in Prince George’s County, and one where condition and inspection findings matter more than almost anywhere else nearby.
Lanham market at a glance, year over year
| Metric | 12 mo to 6/30/2026 | 12 mo to 6/30/2025 | Change |
|---|---|---|---|
| Closed sales | 290 | 312 | -7.1% |
| Median sale price | $450,000 | $460,000 | -2.2% |
| Average sale price | $471,259 | $471,553 | -0.1% |
| Median price per sq ft | $272.31 | $281.25 | -3.2% |
| Median days on market | 16 days | 12 days | +33.3% |
| Average days on market | 31 days | 25 days | +24.0% |
| Average list-to-sale ratio | 100.98% | 100.26% | +0.7% |
What these numbers mean if you are selling in Lanham
The single most useful figure on this page for a seller is not the median price — it is the list-to-sale ratio paired with days on market. In Lanham, MD (ZIP 20706), the median home sold for exactly its asking price and the average sale closed at 100.98% of list. That tells you the market will pay a correctly priced number. It also tells you it will not chase an incorrect one: the gap between the median 16 days on market and the average 31 days is the cost of overpricing, measured in weeks.
Days on market lengthened over the past year, from a median of 12 days to 16. Seller-paid closing cost assistance is now a routine part of the negotiation across Prince George’s County rather than an exception, and it should be priced into your net-proceeds expectation from the start rather than conceded late.
What these numbers mean if you are buying in Lanham
At a median of $450,000 and $272.31 per finished square foot, Lanham, MD (ZIP 20706) sits inside a county where price per square foot varies far more by condition and finish level than by street. The practical implication is that two homes with the same list price in this market can carry very different renovation liabilities—and the median property age here is 53 years means inspection findings, not comparable sales, are usually what decide whether a deal is good.
Because the typical home still sells at full asking price, waiting for a discount is rarely the winning strategy. Structuring the offer well — on closing help, timing, appraisal terms and inspection scope — is.
Frequently asked questions about the Lanham real estate market
What is the median home price in Lanham, MD (ZIP 20706)?
The median closed sale price in Lanham, MD (ZIP 20706) was $450,000 over the 12 months ended June 30, 2026, across 290 closed residential sales recorded in Bright MLS. The average sale price was $471,259, and the median price per finished square foot was $272.31.
How long does it take to sell a home in Lanham, MD?
The median home in Lanham, MD (ZIP 20706) went under contract in 16 days over the 12 months ended June 30, 2026; the average was 31 days. A year earlier the median was 12 days and the average was 25 days, so homes are taking longer to sell than they did in the 12 months ended June 30, 2025. Averages run well above medians here because a small number of listings sit for many months and pull the average up.
Are home prices going up or down in Lanham?
The median sale price moved from $460,000 in the 12 months ended June 30, 2025 to $450,000 in the 12 months ended June 30, 2026 — a change of -2.2%. The average sale price changed -0.1% and the median price per square foot changed -3.2%. Closed sales volume was -7.1%. Neighbourhood-level results vary widely inside these boundaries, so a market-wide figure is a starting point, not a valuation of any particular home.
Do homes in Lanham sell for asking price?
On average, closed sales in Lanham, MD (ZIP 20706) settled at 100.98% of list price over the 12 months ended June 30, 2026, with a median ratio of 100.00% — meaning the typical home sold for exactly its asking price. Seller-paid closing cost help was common: the median concession was recorded on a majority of sales in this market.
What is a typical home in Lanham, MD?
The median home that closed in Lanham, MD (ZIP 20706) over the 12 months ended June 30, 2026 had 4 bedrooms, 3.0 bathrooms and 1,584 finished square feet, with a median property age of 53 years. That is the middle of the range, not the whole of it — this market includes both modest townhomes and large detached houses.
Who is a REALTOR® who knows the Lanham market?
Carole Webb is a licensed Maryland REALTOR® with Samson Properties and the 2026 President of the Prince George’s County Association of REALTORS®. She serves Lanham and the surrounding Prince George’s County communities from an office at 16701 Melford Blvd, Bowie, MD 20715, and can be reached at 301-237-0445 or carolerwebb@yahoo.com.
Get a real number for your Lanham home
Market medians describe a whole ZIP code. They do not describe your house. Carole Webb will walk your property, pull the comparable sales that actually match it, and give you a defensible price range — with no obligation.
Nearby market reports: Bowie · Upper Marlboro · Mitchellville · Glenn Dale · Largo & Lake Arbor · Lanham
Data note: Figures are compiled from Bright MLS closed residential sales and are believed reliable but are not guaranteed. They are not an appraisal and should not be relied on as one. © Bright MLS 2026.