The Long & Foster Market Minute

Focus On: Howard County Housing Market May 2018

Units Sold
431
Active Inventory
989
Median Sale Price
$425,000
Days On Market
28
Down -15%
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -10%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 431 sold this month in Howard County Real Estate versus 391 last month, an increase of 10%. This month's total units sold was lower than at this time last year, a decrease of 15% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 228 units or 19%. The total number of active inventory this May was 989 compared to 1,217 in May 2017. This month's total of 989 is higher than the previous month's total supply of available inventory of 883, an increase of 12%.

Median Sale Price
Last May, the median sale price for Howard County Homes was $435,000. This May, the median sale price was approximately the same at $425,000. The current median sold price is 2% lower than in May 2017.

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


New Listings
775
Current Contracts
525
Sold Vs. List Price
99.1%
Months of Supply
2.3
Up 2%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -5%
Vs. Year Ago

Months of Supply
In May, there was 2.3 months of supply available in Howard County, compared to 2.4 in May 2017. That is a decrease of 4% 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.

New Listings & Current Contracts
This month there were 775 homes newly listed for sale in Howard County compared to 762 in May 2017, an increase of 2%. There were 525 current contracts pending sale this May compared to 490 a year ago. The number of current contracts is 7% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Howard County was 99.1% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 28, lower than the average last year, which was 31, a decrease of 10%.

The Long & Foster Market Minute
*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.