The Long & Foster Market Minute
Focus On: Howard County Housing Market March 2017
Units Sold
367
Active Inventory
906
Median Sale Price
$385,500
Days On Market
49
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 21%
Vs. Year Ago
Down -24%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -16%
Vs. Year Ago
Units Sold
There was an increase in total units sold in March, with 367 sold this month in Howard County Real Estate. This month's total units sold was higher than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 280 units or 24%. The total number of active inventory this March was 906 compared to 1,186 in March 2016. This month's total of 906 is higher than the previous month's total supply of available inventory of 813, an increase of 11%.

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Median Sale Price
Last March, the median sale price for Howard County Homes was $377,500. This March, the median sale price was $385,500, an increase of 2% or $8,000 compared to last year. The current median sold price is 1% lower than in February.

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

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New Listings
734
Current Contracts
519
Sold Vs. List Price
98.8%
Months of Supply
2.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 3%
Vs. Year Ago
Up 13%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -37%
Vs. Year Ago
Months of Supply
In March, there was 2.5 months of supply available in Howard County, compared to 3.9 in March 2016. That is a decrease of 37% 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.

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New Listings & Current Contracts
This month there were 734 homes newly listed for sale in Howard County compared to 712 in March 2016, an increase of 3%. There were 519 current contracts pending sale this March compared to 460 a year ago. The number of current contracts is 13% higher than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Howard County was 98.8% of the average list price, which is 0.6% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 49, lower than the average last year, which was 58, a decrease of 16%.

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*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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.