Is Lutherville Timonium, 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, 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
$455,000
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Lutherville Timonium have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in Lutherville Timonium was $455,000 in November 2023, up 10.6% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $166.2K | $207.5K | +24.8% |
| 2 Bedrooms | $320K | $347.5K | +8.6% |
| 3 Bedrooms | $411.5K | $439.5K | +6.8% |
| 4 Bedrooms | $470K | $515K | +9.6% |
| 5+ Bedrooms | $611K | $705K | +15.4% |
Summary: Lutherville Timonium housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 24.8%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 15.4%.
Median Sold Price Compared To Nearby Cities
| Cockeysville | $390K | $450K | +15.4% |
| Towson | $370K | $426.3K | +15.2% |
| Lutherville Timonium | $411.3K | $455K | +10.6% |
Housing Supply in Lutherville Timonium, MD
How many homes are available in Lutherville Timonium, MD?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 185 | 172 | -7.0% |
Summary: The Lutherville Timonium real estate market had 172 homes for sale in November 2023, a 7.0% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 29 | 29 | 0.0% |
| 3 Bedrooms | 58 | 50 | -13.8% |
| 4 Bedrooms | 58 | 57 | -1.7% |
| 5+ Bedrooms | 35 | 30 | -14.3% |
Summary: The Lutherville Timonium housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 13.8%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 36 | 34 | -5.6% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lutherville Timonium, you could pay more than the asking price. 38.2% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in Lutherville Timonium in November 2023, down by 5.6% month-over-month. Of the 34 sold homes, 32% were sold under asking, 29% were sold at asking, and 38% 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
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 32 Days | 15 Days | -51.4% |
Summary: Homes in Lutherville Timonium had an average of 15 days on market in Nov 2023, down by 51.4% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lutherville Timonium are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 34 homes were sold in Lutherville Timonium; 88% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
