Howard County, MD, December 2021 - Residential home prices in Howard County continued to rise during the month of November 2021, according to the latest data from the Howard County Association of REALTORS® (HCAR). The average sold price was $539,679, which is a 6.5 percent compared to the same time last year.

 

"We are still in a very competitive market as Howard County is one of the most sought-after places to live in the Baltimore & DC Metro areas," said HCAR President Sarah Anderson. "The average home sells for about one percent above listing price and can go pending in about five days. Homes that receive multiple offers can sell for about two percent above listing price, or even more."

 

During the month of November 2021, Howard County saw an 8.6 percent increase in the number of homes sold (428) compared to the same time last year (394) and a 0.9 percent increase compared to the previous month (424). New residential listings (309) were down 4.3 percent compared to the same time last year (323) and active listings (214) were down 33.5 percent compared to the same time last year (322). The average days on market for units sold was 15 days, which is 21 percent lower than the same time last year (18) and 53 percent below the five-year November average of 32 days.

 

There was a 19.3 percent month over month decrease in new contract activity with 363 new pendings; a 15.5 percent MoM decrease in all pendings (new contracts + contracts carried over from October) to 501; and a 31.8 percent decrease in supply to 214 active units.

 

This activity resulted in a Contract Ratio of 2.34 pendings per active listing, up from 1.89 October 2021 and 1.84 in November 2020. The Contract Ratio was 92 percent higher than the five-year November average of 1.22. 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.

 

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.