Is Lutherville Timonium, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lutherville Timonium was a Seller's Market.
Key Takeaway
Lutherville Timonium is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lutherville Timonium, MD
How much do homes in Lutherville Timonium, MD cost?
Median Sold Price
$465,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lutherville Timonium have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Lutherville Timonium was $465,000 in March 2024, up 9.4% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $193.7K | $187.5K | -3.2% |
| 2 Bedrooms | $327.5K | $350K | +6.9% |
| 3 Bedrooms | $426.2K | $440K | +3.2% |
| 4 Bedrooms | $494K | $522.5K | +5.8% |
| 5+ Bedrooms | $700K | $705K | +0.7% |
Summary: Lutherville Timonium housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 0.7%.
Median Sold Price Compared To Nearby Cities
| Cockeysville | $388K | $449.9K | +16.0% |
| Towson | $387K | $425K | +9.8% |
| Lutherville Timonium | $425K | $465K | +9.4% |
Housing Supply in Lutherville Timonium, MD
How many homes are available in Lutherville Timonium, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 156 | 174 | +11.5% |
Summary: The Lutherville Timonium real estate market had 174 homes for sale in March 2024, a 11.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 27 | 33 | +22.2% |
| 3 Bedrooms | 44 | 50 | +13.6% |
| 4 Bedrooms | 48 | 53 | +10.4% |
| 5+ Bedrooms | 32 | 33 | +3.1% |
Summary: The Lutherville Timonium housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 3.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 29 | +20.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lutherville Timonium, expect to pay close to the asking price. 34.5% of homes here sold near the asking price last month.
Summary: A total of 29 homes were sold or pending in Lutherville Timonium in March 2024, up by 20.8% month-over-month. Of the 29 sold homes, 31% were sold under asking, 34% were sold at asking, and 34% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 17 Days | 23 Days | +31.5% |
Summary: Homes in Lutherville Timonium had an average of 23 days on market in Mar 2024, up by 31.5% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 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 March 2024, 29 homes were sold in Lutherville Timonium; 76% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
