Will My Timonium House be Worth More in the Spring?

Will my house be worth more in the spring?

Often times, sellers wait for the “Spring Market” to put their house up for sale, since usually buyers are more apt to look, your house looks great with the spring blooms and the winter doldrums over.

The end of 2010 into the Spring 2011 home sales market is looking a bit different — and not in a good way for home sellers.

In reading an article from Keeping Current MattersTM, where the writers reference multiple trend reports, the recovery seems much more likely to be in 2012 than 2011. Once the paperwork is cleared with the banks, more foreclosures will flood the market — with a number coming on that had been held up before. Short sales are still on the rise, which hurt house values.

Economist and trend valueists still show 2011 in a lower curve, expecting prices to drop even more-so in the next 12 months.

So what does this mean for Timonium homes for sale?

Sellers need to price their home correctly to sell within 60 days — before the market drops further!

Sellers should also consider the fact that Timonium homebuyers who are looking right now, are very serious — not just looking for the sake of looking! So if you are a seller considering selling, get it ready, and get it on the market as quickly as possible. Houses tend to look beautiful around the holidays with decorations!

Contact me for more information about selling a Timonium house. I am happy to help!

Timonium Home Sales Statistics October 2010

Timonium home sales statistics for October 2010 were a marked improvement over September!

September’s 21093 houses sold were down 31% over 2009. October showed an 11.08% drop, with 26 homes settling, but prices were up 9.44%!

30 Timonium homes went under contract last month, and 52 houses came on the market.

The Real Estate Business Intelligence report also shows that the average days on the market dropped 43.84% from a high last year of 146 days to sell down to 82 in October 2010. Sellers are also getting, on average, 91.33% of their asking price, up from 90.60% this time last year.

Each Timonium neighborhood is different so know that even in a shared zip code, statistics are very local.

For an individualized Timonium home price analysis, contact me today!

Timonium Home Sale Statistics September 2010

Timonium home sale statistics were down for September 2010 compared to 2009. This bucked the trend set by Towson home sales and Hunt Valley home sales for the same time period.

Timonium had a 31.51% drop, down about $4.5 Million from last year. The number of units dropped a correlating 33.33% down to 30 from 45 in September 2009. The good news is that the average sales price was up 2.73% to $324,260 from $315,636, and average days on market was down to 100 days on market from 122 last year.

There were 63 new homes listed and 27 went under contract in the 21093 zip code in September.

For a detailed Timonium market analysis of your home, contact me today. I would be happy to help!

Timonium Home Sales Statistics February 2010

Timonium houses have dropped a little in value over the past year — with average 21093 home sales remaining in the low $300,000′s from February 2009-February 2010.

Sold values dropped 10% from February 2009 to $310,000, but under contract was up 1%. Also to note is that there were 34 that settled this February over only 18 last year at the same time.

List prices are down from $349,000 last year to $340,000 this year.

Considering the multiple blizzards we had in one week in February, these numbers are much better than they could have been!

View the February 2010 Timonium Home Sales Report.

Please note that these are statistics from the multiple list. The chart is an overview of the zip code and does not take into account the type (condo, townhouse, single family) or condition of the home. To have a true value understanding of your Timonium home or Lutherville neighborhood, these factors need to be taken into consideration. If you would like a Lutherville or Timonium home price evaluation, please contact me today.

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