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Howard County Home Supply Shrinking, Prices Steady

While we still have a 30% larger supply of homes for sale than we did last year, prices remain steady in Howard County.  The median sale price of a Howard County home last month was $370,000, down 1.3% from last year at this time.

Howard County Stats – September 2014
Howard County Home Sales Statistics - September 2014

Days on market continues to climb, with the average days a property spends on the market currently at 36, up 38.5% from last September.  That said, we’re seeing strong sales volume, with 287 sales last month, compared to 273 a year ago August – an increase of 5.1%.

Howard County’s pending home sales remain steady, with 593 homes under contract.  This bodes for a steady October in sales.

One important item to note is that, as of this writing, interest rates are the lowest they’ve been in over a year, with the flagship 30-year mortgage dipping into the 3.75% to 4% range.  If you haven’t thought of buying or refinancing, we urge you to talk to us or your mortgage lender.

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 laurak@kittlemangroup.com.

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 tom@kittlemangroup.com.

 

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