November 2011 showed a large jump in Timonium home sales over the same period last year.
There were 47% more sales — up 42.94% to $12,293,200 in homes changing hands, while last November had $8,600,150 in home change hands. The average sales price was only down very slightly (3.51%), to $307,330.
13 more homes changed hands than last year, with 40 settlements that happened.
An interesting statistic is that 23 detached homes sold, versus 9 last November. There are many small cape cod and rancher style homes that, in this market, are selling under $300,000, which could explain the large jump in sales, yet the slight drop in price.
Homes in Timonium are staying on the market a bit longer as well — 100 days on average for those that sold last month, versus 81 days last year. That’s almost an additional three weeks to sell your home in this real estate market! One of those 40 homes that sold, though, was on the market for almost two years, so that definitely skews the numbers. 13 of them actually sold in less than a month (5 within a week or 2 on the market!) So, it appears that if the houses are in good condition and priced well, there are many people who want to buy a home in Timonium!
47 homes went under contract, and 33 were newly listed for sale. That is a good sign! It means that the housing inventory in Timonium is dropping, with 180 available homes for Timonium homebuyers, and that homes are selling in the area!
Here is a link to the detailed November 2011 Timonium Home Sale report.
As I have mentioned many times before, even within the 21093 zip code, there are many neighborhoods, each with their own characteristics and resale values. Sometimes these houses are just one street over from each other, but could have vastly different averages.
For professional and knowledgeable Timonium real estate help, contact me. I am ready to assist!