Is Towson, 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, Towson was a Seller's Market.
Key Takeaway
Towson is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Towson, MD
How much do homes in Towson, MD cost?
Median Sold Price
$425,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Towson have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Towson was $425,000 in March 2024, up 9.8% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $145.5K | +16.4% |
| 2 Bedrooms | $215K | $235K | +9.3% |
| 3 Bedrooms | $320.9K | $333K | +3.8% |
| 4 Bedrooms | $619.9K | $620K | 0.0% |
| 5+ Bedrooms | $651K | $902.5K | +38.6% |
Summary: Towson housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.4%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 38.6%.
Median Sold Price Compared To Nearby Cities
| Parkville | $270K | $297.8K | +10.3% |
| Towson | $387K | $425K | +9.8% |
| Lutherville Timonium | $425K | $465K | +9.4% |
| Glen Arm | $615K | $600K | -2.4% |
Housing Supply in Towson, MD
How many homes are available in Towson, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 142 | 151 | +6.3% |
Summary: The Towson real estate market had 151 homes for sale in March 2024, a 6.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 10 | +100.0% |
| 2 Bedrooms | 16 | 17 | +6.3% |
| 3 Bedrooms | 55 | 58 | +5.5% |
| 4 Bedrooms | 45 | 45 | 0.0% |
| 5+ Bedrooms | 21 | 21 | 0.0% |
Summary: The Towson housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 5.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 18 | -33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Towson, you could pay more than the asking price. 61.1% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Towson in March 2024, down by 33.3% month-over-month. Of the 18 sold homes, 28% were sold under asking, 11% were sold at asking, and 61% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 17 Days | 20 Days | +18.3% |
Summary: Homes in Towson had an average of 20 days on market in Mar 2024, up by 18.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 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 March 2024, 18 homes were sold in Towson; 61% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
