The Long & Foster Market Minute

Focus On: Towson Housing Market March 2019

Zip Code(s): 21286 and 21204
Units Sold
45
Active Inventory
120
Median Sale Price
$296,000
Days On Market
85
Up 10%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 77%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 45 sold this month in Towson Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 4 units or 3%. The total number of active inventory this March was 120 compared to 116 in March 2018. This month's total of 120 is higher than the previous month's total supply of available inventory of 96, an increase of 25%.

Median Sale Price
Last March, the median sale price for Towson Homes was $313,000. This March, the median sale price was $296,000, a decrease of 5% or $17,000 compared to last year. The current median sold price is 17% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
88
Current Contracts
49
Sold Vs. List Price
95.3%
Months of Supply
2.7
Up 19%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -2.8%
Vs. Year Ago
Down -6%
Vs. Year Ago

Months of Supply
In March, there was 2.7 months of supply available in Towson, compared to 2.8 in March 2018. That is a decrease of 6% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 88 homes newly listed for sale in Towson compared to 74 in March 2018, an increase of 19%. There were 49 current contracts pending sale this March compared to 53 a year ago. The number of current contracts is 8% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Towson was 95.3% of the average list price, which is 2.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 85, higher than the average last year, which was 48, an increase of 77%.

The Long & Foster Market Minute Towson are defined as properties listed in zip code/s 21286 and 21204.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.