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.
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.
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