Home Prices Steady, Volume Down
Howard County home prices remained steady in November, even as sales volume decreased by 6.6% from last year. The median sale price of a home in Howard County was $372,400 last month, down 0.8% from last year ($375,500). This is good news considering the lower sales volume, with 228 sales in November, compared to 244 a year ago.
Days on market remains low, at 48 days, compared to the 5-year average of 79 days for a home on the market in November.
New pending sales are up 8.5% from last year, which should help bolster the market heading into the new year.
These numbers tell of a stable market, so assuming interest rates and employment remain steady, we should continue our housing recovery into 2014.
Laura Kittleman is the owner of The Kittleman Group of Keller Williams Select Realtors, based in Ellicott City, MD. She can be reached at 301-785-5889 or email@example.com