Is Lothian, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Lothian has remained a Buyer's Market.
Key Takeaway
Lothian is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lothian, MD
How much do homes in Lothian, MD cost?
Median Sold Price
$650,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Lothian have sold for 16.1% less than they did a year ago.
Summary: The median home sold price in Lothian was $650,000 in November 2023, down 16.1% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $440.1K | N/A |
| 3 Bedrooms | $425K | $419.9K | -1.2% |
| 4 Bedrooms | $861.4K | $675K | -21.6% |
| 5+ Bedrooms | $825K | $807K | -2.2% |
Summary: Lothian housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 1.2%, 4 bedroom homes decreased by 21.6%, and 5+ bedroom homes decreased by 2.2%.
Median Sold Price Compared To Nearby Cities
| West River | $691K | $649.9K | -5.9% |
| Lothian | $775K | $650K | -16.1% |
Housing Supply in Lothian, MD
How many homes are available in Lothian, MD?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 19 | 17 | -10.5% |
Summary: The Lothian real estate market had 17 homes for sale in November 2023, a 10.5% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Lothian housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lothian, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Lothian in November 2023, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Lothian, MD
How long does it take to sell a home in Lothian, MD?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 39 Days | 35 Days | -9.0% |
Summary: Homes in Lothian had an average of 35 days on market in Nov 2023, down by 9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lothian are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 2 homes were sold in Lothian; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
