The Long & Foster Market Minute

FOCUS ON: TOWSON HOUSING MARKET APRIL 2024

Zip Code(s): 21286 and 21204
Units Sold
43
Active Inventory
47
Median Sale Price
$515,000
Days On Market
17
Down -2%
Vs. Year Ago
Up 18%
Vs. Year Ago
Up
Vs. Year Ago
Up 6%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 43 sold this month in Towson Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 7 units or 18%. The total number of active inventory this April was 47 compared to 40 in April 2023. This month's total of 47 is lower than the previous month's total supply of available inventory of 53, a decrease of 11%.

Median Sale Price
Last April, the median sale price for Towson Homes was $350,000. This April, the median sale price was $515,000, an increase of $165,000 compared to last year. The current median sold price is higher than in March.

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


New Listings
45
Current Contracts
49
Sold Vs. List Price
102.6%
Months of Supply
1.1
Down -12%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
Up 20%
Vs. Year Ago

Months of Supply
In April, there was 1.1 months of supply available in Towson, compared to 0.9 in April 2023. That is an increase of 20% 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 45 homes newly listed for sale in Towson compared to 51 in April 2023, a decrease of 12%. There were 49 current contracts pending sale this April compared to 46 a year ago. The number of current contracts is 7% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Towson was 102.6% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 17, higher than the average last year, which was 16, an increase of 6%.

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.