Is Towson, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Towson was a Seller's Market.
Key Takeaway
Towson 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 Towson, MD
How much do homes in Towson, MD cost?
Median Sold Price
$425,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Towson have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Towson was $425,000 in May 2024, up 3.7% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $146.1K | +16.9% |
| 2 Bedrooms | $219K | $239K | +9.1% |
| 3 Bedrooms | $325K | $332.5K | +2.3% |
| 4 Bedrooms | $614.9K | $625K | +1.6% |
| 5+ Bedrooms | $775K | $896.7K | +15.7% |
Summary: Towson housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.9%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 15.7%.
Median Sold Price Compared To Nearby Cities
| Parkville | $272K | $300K | +10.3% |
| Glen Arm | $575K | $612.2K | +6.5% |
| Lutherville Timonium | $436.6K | $460K | +5.3% |
| Towson | $410K | $425K | +3.7% |
Housing Supply in Towson, MD
How many homes are available in Towson, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 111 | 131 | +18.0% |
Summary: The Towson real estate market had 131 homes for sale in May 2024, a 18.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 9 | -18.2% |
| 2 Bedrooms | 14 | 17 | +21.4% |
| 3 Bedrooms | 40 | 51 | +27.5% |
| 4 Bedrooms | 25 | 32 | +28.0% |
| 5+ Bedrooms | 21 | 22 | +4.8% |
Summary: The Towson housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 18.2%, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 27.5%, 4 bedroom homes increased by 28%, and 5+ bedroom homes increased by 4.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 19 | -45.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Towson, you could pay more than the asking price. 52.6% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Towson in May 2024, down by 45.7% month-over-month. Of the 19 sold homes, 26% were sold under asking, 21% were sold at asking, and 53% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 31 Days | +101.5% |
Summary: Homes in Towson had an average of 31 days on market in May 2024, up by 101.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 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 May 2024, 19 homes were sold in Towson; 74% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
