Home Prices in Lutherville Timonium MD for May 2014
Real estate market data for Lutherville Timonium, MD provided by Helene Kelbaugh of Keller Williams Realty Baltimore.
Lutherville Timonium Home Prices
We have seen 5 straight months of listing price increases on home prices in Lutherville Timonium 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 Timonium but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell 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 Timonum home on which you are making an offer.
If you are interested in how much current inventory is on the market in Lutherville Timonium 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 Lutherville Timonium, homes have a median time of 30 or less days on the market before they sell. This would suggest that buyers should be prepared to make an aggresive offer on a home and be prepared for multiple offer situations. Sellers should make sure to price their home for market value to get an offer from one of those interested buyers. Low inventory in Lutherville Timonium 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.
The median list price in May for single family homes in Lutherville Timonium is $375,350. The list prices increased from the previous month.
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Visit my website to search for homes in Lutherville Timonium or to be notified when Lutherville Timonium homes come on the market.
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