Howard County continues to see steady prices, with May’s median home sale price of $399k a 2.98% increase from this time last year.
There are now several areas of concern with Howard County’s real estate market, however. Let’s look at three important indicators trending against us.
- The number of active listings is up 49.18% from last year at this time – WOW! We have 1,189 actively listed homes on the market as of June 4 (the date of the report).
- Pending sales have slumped 15.88%, down to 747.
- The average days on market is up 6.25% to 51 days, meaning homes are taking longer to sell.
Howard County Stats – May 2014
The average seller is getting about 96.6% of their asking price, down 1.56% from this time last year, and in line with what we saw last month.
Fortunately, interest rates are moving within a very steady band, and continue to hover in the 4.3% range, making homes very affordable.
If we can absorb much of the inventory during the coming months, we should see prices remain steady.
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 Select Realtors, and her team works primarily in Howard County and Montgomery County, Maryland. She can be reached at 301-785-5889 or firstname.lastname@example.org