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Lutherville Mortgage Lender – December Market Update

Ken • Jan 11, 2018

As a Lutherville mortgage lender, I take great pride in being able to help my clients throughout Baltimore County achieve their dreams of finding affordable home financing for the purchase of their new home.

A large part of that process is making sure I am up to date on the latest real estate market news and statistics, as this information can help my clients make educated decisions about the home they decide to purchase.

During the month of November 2017, there were a total of 836 residential units sold in the Baltimore County area. This figure is up 7.9% from the total of 775 residential units that were sold in the same month of 2016. At the end of the month, however, there were 14 fewer sales that were still pending in 2017 than in 2016.

The average sales price of homes that were sold in the local area also rose on a year-over-year basis, increasing from $258,352 in November of 2016 to $271,537 in November of 2017.

In the Lutherville Timonium area specifically, a popular real estate website has the median home value listed at $152,456. This puts the majority of home values in the $106,001 to $213,000 price range. The $53,001 to $106,000 price range holds the next large amount of median home values, making up 20.7% of the current market.

When the Lutherville market is broken down by house size, we can see that the majority of homes that are being sold fall into the 3-bedroom category.

Number of Bedrooms Percent of Market
No Bedrooms 0.8%
1 Bedroom 4.4%
2 Bedrooms 19.5%
3 Bedrooms 38.3%
4 Bedrooms 27.0%
5 Bedrooms or More 10.0%

 

Whether you are interested in purchasing a new home or refinancing your existing mortgage , it is important that you are well informed throughout every aspect of the process.

As a Lutherville mortgage lender, I will be there to help you, every step of the way. Give me a call for more information or to get started on your mortgage process today!

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