HOWARD COUNTY, MD, October 14, 2021 - Overall, Howard County's housing market remained robust in September 2021, according to the latest data from the Howard County Association of REALTORS® (HCAR), but low inventory continues to be a problem, driving up home prices.
September saw a 3.7 percent decrease in new residential listings (488) compared to the same time last year (507) and a 14.1 percent decrease compared to last month (568). Active listings (348) were down 15.1 percent compared to the same time last year and there were a total of 529 homes sold, which is up 12.1 percent from the same time last year. The average days on market sat at 12, which is 42.9 percent lower than the same time last year and the average sale price was $519,484, which is up 4.0 percent compared to the same time last year.
In September, there was 0.8 months of supply available in Howard County, compared to 1.0 in September 2020. That is a 28.9 percent decrease. In fact, there has not been more than a one-month supply since October 2020. In a balanced housing market, there is a five-to-eight month supply of inventory. A nine-month supply is considered a buyers' market.
"With there being a shortage of homes on the market, supply and demand continue to drive prices up," said Newly Elected 2022 HCAR President Sarah Anderson. "However, due to interest rates remaining as low as they are, sellers are still often receiving multiple offers, keeping competition robust."
HCAR’s monthly local housing statistics are pulled from the Bright Multiple Listing Service. The Bright MLS service area includes Maryland, Delaware, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia.
Visit www.hcar.org for more information.
More about the Howard County Association of REALTORS®
The Howard County Association of REALTORS® is fortunate enough to represent over 2,000 real estate professionals in Howard County. HCAR’s mission is to advance Howard County’s real estate industry by shaping public policy on real property issues; and encouraging, promoting, and teaching consistent standards for ethical practice and professionalism for our REALTOR® members.
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