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Howard County Prices Holding Even with Burgeoning Inventory

Howard County is holding onto last month’s price gains, with April’s median home sale price of approximately $382k representing a 9.14% increase from last year, even though the median price slipped 4.5% from last month.

What makes this number more impressive is that inventory is up a whopping 30.35% from last year to 1,005 homes actively listed versus 771 last year at this time.

Howard County Stats – April 2014
Howard County Maryland Market Stats April 2014

Average days on market has declined, too, to 63 days, down over 7% year over year.

Pressure from the buyer side continues to keep prices steady, with the average seller getting about 96.3% of their asking price, even in light of the substantial increase in competition. We will continue to monitor both prices and inventory, for they, along with interest rates, are the most important factors affecting affordability. And affordability is what keeps the buyer demand high.

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 laurak@kittlemangroup.com.

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