Is Owings Mills, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Owings Mills has remained a Seller's Market.
Key Takeaway
Owings Mills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Owings Mills, MD
How much do homes in Owings Mills, MD cost?
Median Sold Price
$351,500
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Owings Mills have sold for 3.4% more than they did a year ago.
Summary: The median home sold price in Owings Mills was $351,500 in April 2024, up 3.4% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $219K | $192K | -12.3% |
| 2 Bedrooms | $237K | $242.2K | +2.2% |
| 3 Bedrooms | $330K | $341.2K | +3.4% |
| 4 Bedrooms | $485K | $528.4K | +9.0% |
| 5+ Bedrooms | $757.5K | $840K | +10.9% |
Summary: Owings Mills housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.3%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 10.9%.
Median Sold Price Compared To Nearby Cities
| Pikesville | $343.8K | $371.2K | +8.0% |
| Reisterstown | $353.8K | $379.8K | +7.4% |
| Randallstown | $340K | $353.3K | +3.9% |
| Owings Mills | $340K | $351.5K | +3.4% |
Housing Supply in Owings Mills, MD
How many homes are available in Owings Mills, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 140 | 153 | +9.3% |
Summary: The Owings Mills real estate market had 153 homes for sale in April 2024, a 9.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 33 | 42 | +27.3% |
| 3 Bedrooms | 53 | 51 | -3.8% |
| 4 Bedrooms | 30 | 30 | 0.0% |
| 5+ Bedrooms | 23 | 29 | +26.1% |
Summary: The Owings Mills housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 27.3%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 26.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 44 | +2.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Owings Mills, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 44 homes were sold or pending in Owings Mills in April 2024, up by 2.3% month-over-month. Of the 44 sold homes, 20% were sold under asking, 30% were sold at asking, and 50% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 17 Days | -34.2% |
Summary: Homes in Owings Mills had an average of 17 days on market in Apr 2024, down by 34.2% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
5 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 April 2024, 44 homes were sold in Owings Mills; 84% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
