The Long & Foster Market Minute

Focus On: Howard County Housing Market January 2019

Units Sold
178
Active Inventory
656
Median Sale Price
$362,500
Days On Market
58
Down -26%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 4%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 178 sold this month in Howard County Real Estate versus 268 last month, a decrease of 34%. This month's total units sold was lower than at this time last year, a decrease of 26% versus January 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 11 units or 2%. The total number of active inventory this January was 656 compared to 667 in January 2018. This month's total of 656 is lower than the previous month's total supply of available inventory of 823, a decrease of 20%.

Median Sale Price
Last January, the median sale price for Howard County Homes was $380,000. This January, the median sale price was $362,500, a decrease of 5% or $17,500 compared to last year. The current median sold price is 3% lower than in December.

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


New Listings
318
Current Contracts
277
Sold Vs. List Price
98.1%
Months of Supply
3.7
Down -1%
Vs. Year Ago
Down -3%
Vs. Year Ago
No Change
Vs. Year Ago
Up 33%
Vs. Year Ago

Months of Supply
In January, there was 3.7 months of supply available in Howard County, compared to 2.8 in January 2018. That is an increase of 33% 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 318 homes newly listed for sale in Howard County compared to 321 in January 2018, a decrease of 1%. There were 277 current contracts pending sale this January compared to 287 a year ago. The number of current contracts is 3% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Howard County was 98.1% 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 58, higher than the average last year, which was 56, an increase of 4%.

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.