Is Towson, 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, Towson has remained a Seller's Market.
Key Takeaway
Towson is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Towson, MD
How much do homes in Towson, MD cost?
Median Sold Price
$426,333
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Towson have sold for 15.2% more than they did a year ago.
Summary: The median home sold price in Towson was $426,333 in November 2023, up 15.2% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $145.5K | +16.4% |
| 2 Bedrooms | $215K | $230K | +7.0% |
| 3 Bedrooms | $315K | $328.5K | +4.3% |
| 4 Bedrooms | $607K | $600K | -1.2% |
| 5+ Bedrooms | $712.5K | $884K | +24.1% |
Summary: Towson housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 16.4%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 24.1%.
Median Sold Price Compared To Nearby Cities
| Towson | $370K | $426.3K | +15.2% |
| Lutherville Timonium | $411.3K | $455K | +10.6% |
| Parkville | $265K | $289.8K | +9.4% |
| Glen Arm | $575K | $605K | +5.2% |
Housing Supply in Towson, MD
How many homes are available in Towson, MD?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 140 | 146 | +4.3% |
Summary: The Towson real estate market had 146 homes for sale in November 2023, a 4.3% increase compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 16 | 13 | -18.8% |
| 3 Bedrooms | 58 | 61 | +5.2% |
| 4 Bedrooms | 42 | 47 | +11.9% |
| 5+ Bedrooms | 19 | 21 | +10.5% |
Summary: The Towson housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 18.8%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 11.9%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 23 | 29 | +26.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Towson, you could pay more than the asking price. 48.3% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in Towson in November 2023, up by 26.1% month-over-month. Of the 29 sold homes, 34% were sold under asking, 17% were sold at asking, and 48% were sold over asking.
Days on Market for Towson, MD
How long does it take to sell a home in Towson, MD?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 20 Days | 19 Days | -6.0% |
Summary: Homes in Towson had an average of 19 days on market in Nov 2023, down by 6% compared to last year.
Breakdown of Home Sale Times
23 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 Towson are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 29 homes were sold in Towson; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
