The Long & Foster Market Minute

Focus On: Columbia Housing Market May 2022

Zip Code(s): 21044, 21045 and 21046
Units Sold
144
Active Inventory
58
Median Sale Price
$450,500
Days On Market
7
Up 2%
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 144 sold this month in Columbia Real Estate versus 135 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 2% versus May 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 25 units or 30%. The total number of active inventory this May was 58 compared to 83 in May 2021. This month's total of 58 is lower than the previous month's total supply of available inventory of 88, a decrease of 34%.

Median Sale Price
Last May, the median sale price for Columbia Homes was $406,000. This May, the median sale price was $450,500, an increase of 11% or $44,500 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
154
Current Contracts
174
Sold Vs. List Price
105.9%
Months of Supply
0.4
Down -26%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In May, there was 0.4 months of supply available in Columbia, compared to 0.6 in May 2021. That is a decrease of 32% 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 154 homes newly listed for sale in Columbia compared to 208 in May 2021, a decrease of 26%. There were 174 current contracts pending sale this May compared to 207 a year ago. The number of current contracts is 16% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Columbia was 105.9% of the average list price, which is 2.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 7, lower than the average last year, which was 9, a decrease of 22%.

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.