The Long & Foster Market Minute

FOCUS ON: COLUMBIA HOUSING MARKET MAY 2024

Zip Code(s): 21044, 21045 and 21046
Units Sold
109
Active Inventory
70
Median Sale Price
$495,000
Days On Market
9
Up 4%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 6%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 109 sold this month in Columbia Real Estate versus 92 last month, an increase of 18%. This month's total units sold was higher than at this time last year, an increase of 4% versus May 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 4 units or 5%. The total number of active inventory this May was 70 compared to 74 in May 2023. This month's total of 70 is lower than the previous month's total supply of available inventory of 75, a decrease of 7%.

Median Sale Price
Last May, the median sale price for Columbia Homes was $465,000. This May, the median sale price was $495,000, an increase of 6% or $30,000 compared to last year. The current median sold price is 6% higher than in April.

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


New Listings
100
Current Contracts
98
Sold Vs. List Price
103.1%
Months of Supply
0.6
Down -19%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 0.6 months of supply available in Columbia. The amount of supply is similar compared to 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 100 homes newly listed for sale in Columbia compared to 124 in May 2023, a decrease of 19%. There were 98 current contracts pending sale this May compared to 108 a year ago. The number of current contracts is 9% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Columbia was 103.1% of the average list price, which is 1.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 9, which is similar compared to a year ago.

The Long & Foster Market Minute Columbia are defined as properties listed in zip code/s 21044, 21045 and 21046.
*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.