The Long & Foster Market Minute

Focus On: Howard County Housing Market March 2021

Units Sold
346
Active Inventory
212
Median Sale Price
$460,800
Days On Market
18
Up 7%
Vs. Year Ago
Down -66%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -51%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 346 sold this month in Howard County Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 419 units or 66%. The total number of active inventory this March was 212 compared to 631 in March 2020. This month's total of 212 is lower than the previous month's total supply of available inventory of 252, a decrease of 16%.

Median Sale Price
Last March, the median sale price for Howard County Homes was $425,000. This March, the median sale price was $460,800, an increase of 8% or $35,800 compared to last year. The current median sold price is 7% higher 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.


New Listings
508
Current Contracts
495
Sold Vs. List Price
101.6%
Months of Supply
0.6
Down -13%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -69%
Vs. Year Ago

Months of Supply
In March, there was 0.6 months of supply available in Howard County, compared to 2.0 in March 2020. That is a decrease of 69% 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 508 homes newly listed for sale in Howard County compared to 584 in March 2020, a decrease of 13%. There were 495 current contracts pending sale this March compared to 412 a year ago. The number of current contracts is 20% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Howard County was 101.6% of the average list price, which is 2.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 37, a decrease of 51%.

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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.