Howard County, MD, January 2021 - Residential home prices in Howard County continued to rise during the month of December 2021, according to the latest data from the Howard County Association of REALTORS® (HCAR). The average sold price was $533,624 which is an 8.4 percent increase compared to the previous year.

 

"During the month of December, demand is seasonally lower and it is typically referred to as a slow month," said HCAR President Sarah Anderson. "However, data shows that buyers are still actively searching for homes in Howard County as it remains a highly sought-after county with tight inventory when compared to the overall Baltimore-metro areas."

 

During the month of December 2021, Howard County saw an 11.8 percent decrease in the number of homes sold (373) compared to the previous year (423) and a 12.9 percent decrease compared to the previous month (428). New residential listings (236) saw a 14.8 percent decrease compared to the previous year (277) and a 23.6 percent decrease compared to the previous month (309). Active listings (148) were down 45.4 percent compared to the previous year (271). The average days on market for units sold was 19 days, which is a zero percent change from the same previous year (19) and 43 percent below the five-year December average of 33 days.

 

There was a 28.9 percent month over month (MoM) decrease in new contract activity with 258 new pendings; a 25.1 percent MoM decrease in all pendings (new contracts + contracts carried over from November) to 375; and a 30.8 percent decrease in supply to 148 active units.

 

This activity resulted in a Contract Ratio of 2.53 pendings per active listing, up from 2.34 in November 2021 and an increase from 1.55 in December 2020. The Contract Ratio is 105 percent higher than the five-year December average of 1.23. 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.