Is Lutherville Timonium, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lutherville Timonium has remained a Seller's Market.
Key Takeaway
Lutherville Timonium is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lutherville Timonium, MD
How much do homes in Lutherville Timonium, MD cost?
Median Sold Price
$460,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lutherville Timonium have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Lutherville Timonium was $460,000 in May 2024, up 5.3% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $193.7K | $187.5K | -3.2% |
| 2 Bedrooms | $328.9K | $350K | +6.4% |
| 3 Bedrooms | $430K | $446.1K | +3.7% |
| 4 Bedrooms | $500K | $515K | +3.0% |
| 5+ Bedrooms | $692.5K | $725K | +4.7% |
Summary: Lutherville Timonium housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 4.7%.
Median Sold Price Compared To Nearby Cities
| Cockeysville | $425K | $450K | +5.9% |
| Lutherville Timonium | $436.6K | $460K | +5.3% |
| Towson | $410K | $425K | +3.7% |
Housing Supply in Lutherville Timonium, MD
How many homes are available in Lutherville Timonium, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 133 | 142 | +6.8% |
Summary: The Lutherville Timonium real estate market had 142 homes for sale in May 2024, a 6.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 31 | 22 | -29.0% |
| 3 Bedrooms | 37 | 46 | +24.3% |
| 4 Bedrooms | 44 | 54 | +22.7% |
| 5+ Bedrooms | 18 | 17 | -5.6% |
Summary: The Lutherville Timonium housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 29%, 3 bedroom homes increased by 24.3%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes decreased by 5.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 40 | -21.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lutherville Timonium, you could pay more than the asking price. 57.5% of homes here sold above asking price last month.
Summary: A total of 40 homes were sold or pending in Lutherville Timonium in May 2024, down by 21.6% month-over-month. Of the 40 sold homes, 25% were sold under asking, 18% were sold at asking, and 57% were sold over asking.
Days on Market for Lutherville Timonium, MD
How long does it take to sell a home in Lutherville Timonium, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 14 Days | +2.9% |
Summary: Homes in Lutherville Timonium had an average of 14 days on market in May 2024, up by 2.9% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lutherville Timonium are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 40 homes were sold in Lutherville Timonium; 93% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
