Looking at March home sale numbers for Howard County, we see average prices up while the number of homes sold has slipped.
Overall volume in Howard County improved 8.9% from last year, even as the number of homes sold dropped by 2.7%. The average and median prices are up nicely, with the median price in Howard County rising to $400,000 for the month.
Homes are taking longer to sell, with the “days on market” indicator now at 80. This represents the number of days from listing to a property going under contract. The increase could be due to the colder than average winter weather we’ve been having.
The average sold to original list price ratio has fallen to 95.6%, showing that even as prices have improved, the expectations of sellers have improved even more. With a 20% increase in listings from this time last year, buyers will have more homes to choose from, so it’s even more important that sellers be realistic when pricing their house this spring.
Howard County Stats – March 2014
As always, the numbers that matter most are yours. Drop us a line for a complimentary market analysis of your home or neighborhood. We’re happy to help!
Laura Kittleman is the owner of The Kittleman Group of Keller Williams Capital Properties, and her team works primarily in Howard County and Montgomery County, Maryland. She can be reached at 301-785-5889 or email@example.com.