The Long & Foster Market Minute
Focus On: Howard County Housing Market June 2017
Units Sold
530
Active Inventory
1,176
Median Sale Price
$435,000
Days On Market
30
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -5%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -3%
Vs. Year Ago
Units Sold
There was an increase in total units sold in June, with 530 sold this month in Howard County Real Estate versus 501 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 5% versus June 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 222 units or 16%. The total number of active inventory this June was 1176 compared to 1,398 in June 2016. This month's supply remained stable as compared to last month.

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Median Sale Price
Last June, the median sale price for Howard County Homes was $420,000. This June, the median sale price was approximately the same at $435,000. The current median sold price is 4% higher than in June 2016.

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
737
Current Contracts
540
Sold Vs. List Price
99.0%
Months of Supply
2.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 3%
Vs. Year Ago
Up 19%
Vs. Year Ago
No Change
Vs. Year Ago
Down -12%
Vs. Year Ago
Months of Supply
In June, there was 2.2 months of supply available in Howard County, compared to 2.5 in June 2016. That is a decrease of 12% 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 737 homes newly listed for sale in Howard County compared to 717 in June 2016, an increase of 3%. There were 540 current contracts pending sale this June compared to 455 a year ago. The number of current contracts is 19% higher than last June.

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Sale Price to List Price Ratio
In June, the average sale price in Howard County was 99.0% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 30, lower than the average last year, which was 31, a decrease of 3%.

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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.