Defying the basic tenets of economics seems to be the norm for the Howard County housing market. Even in the face of a dramatically increased supply of homes for sale (up over 37% from last year at this time), prices remain firm in Howard County for August.
The median sale price of a Howard County home last month was $400,000 down a paltry $100 from last year at this time.
Howard County Stats – August 2014
Days on market are up a bit, from 41 last August to 47 this August, an increase of nearly 15%. That said, we’re seeing solid sales volume, with 328 sales last month compared to 316 a year ago August.
And unlike our neighbor to the south, Montgomery County, our pending sales are on par with last year at this time, boding well for September’s numbers, as well. Montgomery’s pendings are down about 9%, while Howard is actually up 0.16%.
All in all, a solid month for Howard County. We continue to watch interest rates, for an increase in rates will undoubtedly put downward pressure on area home prices.
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 a partner at The Kittleman Group of Keller Williams Select Realtors, working primarily in Howard County and Montgomery County, Maryland. She can be reached at 301-785-5889 or [email protected].
Tom Yeatts is a partner and Associate Broker with The Kittleman Group of Keller Williams Select Realtors. He can be reached at 443.364.8867 or [email protected].