Is Owings Mills, 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, Owings Mills was a Seller's Market.
Key Takeaway
Owings Mills 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 Owings Mills, MD
How much do homes in Owings Mills, MD cost?
Median Sold Price
$363,304
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Owings Mills have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Owings Mills was $363,304 in March 2024, up 8.1% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $219K | $196K | -10.5% |
| 2 Bedrooms | $240K | $240K | 0.0% |
| 3 Bedrooms | $330K | $345K | +4.5% |
| 4 Bedrooms | $485K | $527K | +8.7% |
| 5+ Bedrooms | $757.5K | $840K | +10.9% |
Summary: Owings Mills housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes did not change, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 10.9%.
Median Sold Price Compared To Nearby Cities
| Pikesville | $340K | $375K | +10.3% |
| Reisterstown | $350K | $379.4K | +8.4% |
| Owings Mills | $336K | $363.3K | +8.1% |
| Randallstown | $344.2K | $350K | +1.7% |
Housing Supply in Owings Mills, MD
How many homes are available in Owings Mills, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 211 | 207 | -1.9% |
Summary: The Owings Mills real estate market had 207 homes for sale in March 2024, a 1.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 36 | 38 | +5.6% |
| 3 Bedrooms | 86 | 84 | -2.3% |
| 4 Bedrooms | 38 | 38 | 0.0% |
| 5+ Bedrooms | 49 | 45 | -8.2% |
Summary: The Owings Mills 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 5.6%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 8.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 45 | 31 | -31.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Owings Mills, you could pay more than the asking price. 54.8% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Owings Mills in March 2024, down by 31.1% month-over-month. Of the 31 sold homes, 23% were sold under asking, 23% were sold at asking, and 55% were sold over asking.
Days on Market for Owings Mills, MD
How long does it take to sell a home in Owings Mills, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 20 Days | -34.9% |
Summary: Homes in Owings Mills had an average of 20 days on market in Mar 2024, down by 34.9% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Owings Mills are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 31 homes were sold in Owings Mills; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
