Home Prices in Lutherville Timonium MD for March 2014

Home Prices in Lutherville Timonium MD for March 2014

Real estate market data for Lutherville, MD provided by Helene Kelbaugh of Keller Williams Realty Baltimore.

 

Lutherville Home Prices

We have seen 3 straight months of sold price increases on home prices in Lutherville and don’t expect things to slow down anytime soon.  If you are considering buying a home you can still find deals on a house in Lutherville but having a good real estate agent who understands the market is a must.  Listings are selling within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Lutherville Timonium home on which you are making an offer.

If you are interested in how much current inventory is on the market in Lutherville you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Luthervillle, homes have a median time of 86 days on the market before they sell. This would suggest that buyers are in a great position to make an aggressive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Lutherville has multiple offers coming in on homes similar to what we saw back in 2007. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.  

 

Lutherville Real Estate Report Summary

The median list price in March for single family homes in Lutherville is $401,260.

The list prices increased.

Find Homes for Sale in Lutherville MD

Visit my website to search for homes in Lutherville or to be notified when Lutherville Timonium homes come on the market.

To find out what your home is worth in the current market email me or call 443-465-8443.

How NOT to miss out on buying a house in Baltimore!

How NOT to miss out on buying a house in Baltimore!

Helene Kelbaugh of Keller Williams Realty Baltimore

Oh no!  I missed out on another house. Now what?

Buyers, has this happened to you?  You see a house you love, take a few days to think about it or maybe even see others and then decide to pull the trigger just to find out another buyer got it?  I'm sure my fellow REALTORS and "KW Cousins" can share a story or two about this happening with one of their clients.

How can I NOT to miss out on buying a house in Baltimore for sale again?

1.  Know what you want and don't want before seeing property.

Meet with a REALTOR.  Discuss wishes, wants and needs.  This super important step will eliminate unnecessary showings, save time and help ensure a productive search.

2.  If the house meets your criteria, DON'T HESITATE

If step 1 is complete, don't hesitate!  You know what you want.  Why wait and give someone else the opportunity to take your home?  Don't miss buying a house in Baltimore!

3.  Be sure all decision makers and decision influencers are present at each showing.

You know this is the right house and can't wait to show "friend, family member, coworker".  "Friend, family member, coworker" sees the home and completely tears it apart.  Now you don't know if you like the house or even want to move forward.  Please be sure all decision makers are present when you meet with your REALTOR, and that "friend, family member, coworker" understands your wishes, wants and needs.  If they don't have the save taste, likes dislikes, don't bring them or understand that this is your decision and everyone won't love your home the way you do.  After all you don't want to miss out on buying a house in Baltimore!

4.  Have financing in order and ready to go.  

Work with a lender who is flexible after hours and one weekends.  Some institutional lenders only work Monday thru Friday and banker hours, which could be just the right amount of time for you to miss out on a Baltimore house for sale.

5.  Avoid lowballing the seller.  

This is a sellers market right now, and sellers are quick to say "No" or counter, knowing that another offer to negotiate is most likely right around the corner, if your offer is too low.  Meet your REALTOR,look at comparables.  If it works, make a offer the seller won't refuse!