HOWARD COUNTY, MD, November 18, 2021 - As prices continued to surge last month, Howard County saw a slight decrease in the number of homes sold, according to the latest data from the Howard County Association of REALTORS® (HCAR).

 

During the month of October 2021, Howard County saw an eight percent decrease in the number of homes sold (424) compared to the same time last year (461) and a 20 percent decrease compared to the previous month (529). New residential listings (456) were down 18.9 percent compared to the same time last year (562) and active listings (314) were down 23.2 percent compared to the same time last year (409). The average days on market for units sold was 15 days, which is 16.7 percent lower than the same time last year (18) and 49 percent below the five-year October average of 30 days. The average sale price was $558,939, which is up 15.2 percent compared to the same time last year.

 

This activity resulted in a Contract Ratio of 1.89 pendings per active listing, up from 1.72 last month and 1.60 in October 2020. The Contract Ratio was 78 percent higher than the five-year October average of 1.06. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor.

 

"Despite a drop in home sales and tight inventory in Howard County, there is still a growing demand for housing," said HCAR President Sarah Anderson. "Average sales prices were up this time of year over this time last year. We look forward to expanded potential inventory as more people decide to sell their homes in 2022."

 

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.