Many applications of Wireless Sensor Networks (WSN) require to achieve the positions of the sensor nodes within a given time bound. In this paper we study the relative and physical localizability of WSN in a given time bound. We propose a new distributed and time bounded localization algorithm based on Multidimensional Scaling (MDS) method in WSN called D-MDS localization time algorithm. We compare the proposed algorithm to the existing algorithm based on the well- known Trilateration method. The simulation results show that the proposed algorithm outperforms the existing approach based on Trilateration method in terms of the number of localized nodes in the network and the number of anchors required to physically localize the sensors. The D-MDS localization time algorithm localizes a large number of nodes for a low node degree in a time bound. Moreover it is able to physically localize the network with a low number of anchors compared with the algorithm based on Trilateration method.