Is Owings Mills, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$360,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Owings Mills have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Owings Mills was $360,000 in May 2024, up 5.6% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $263.9K | $185.5K | -29.7% |
| 2 Bedrooms | $230K | $245K | +6.5% |
| 3 Bedrooms | $332.9K | $344K | +3.3% |
| 4 Bedrooms | $484K | $528.4K | +9.2% |
| 5+ Bedrooms | $787.5K | $825.5K | +4.8% |
Summary: Owings Mills housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.7%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Pikesville | $349.5K | $374.9K | +7.3% |
| Reisterstown | $360K | $385K | +6.9% |
| Owings Mills | $340.8K | $360K | +5.6% |
| Randallstown | $345K | $352.5K | +2.2% |
Housing Supply in Owings Mills, MD
How many homes are available in Owings Mills, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 154 | 166 | +7.8% |
Summary: The Owings Mills real estate market had 166 homes for sale in May 2024, a 7.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 42 | 40 | -4.8% |
| 3 Bedrooms | 49 | 60 | +22.4% |
| 4 Bedrooms | 33 | 34 | +3.0% |
| 5+ Bedrooms | 29 | 32 | +10.3% |
Summary: The Owings Mills housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 10.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 46 | 29 | -37.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Owings Mills, you could pay more than the asking price. 44.8% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in Owings Mills in May 2024, down by 37.0% month-over-month. Of the 29 sold homes, 34% were sold under asking, 21% were sold at asking, and 45% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 21 Days | -32.4% |
Summary: Homes in Owings Mills had an average of 21 days on market in May 2024, down by 32.4% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
3 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 May 2024, 29 homes were sold in Owings Mills; 83% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
