Howard County, MD, February 2022 - Active listings in January were at an all-time low in Howard County, according to the latest data from the Howard County Association of REALTORS® (HCAR). During the month of January, there was a 0.3 months of supply available in Howard County, compared to 0.6 in January 2021.

 

"As long as limited supply and inventory remain a key factor, buyers will continue to face fewer options in Howard County," said HCAR President Sarah Anderson. "Because homes in Howard County remain in high-demand, our current supply is regularly amongst the lowest in the metro."

 

During the month of January 2022, Howard County saw a 20.7 percent decrease in the number of homes sold (219) compared to the previous year (276) and a 41.3 percent decrease compared to the previous month (373). New residential listings (263) saw a 12.9 percent decrease compared to the previous year (302) and a 11.4 percent increase compared to the previous month (236). Active listings (127) were down 43.6 percent compared to the previous year (225). The average sale price was $509,842, a two percent decrease compared to the previous year ($520,187). The average days on market for units sold was 16 days, which is a 30.4 percent decrease from the same time last year (23) and 55 percent below the five-year January average of 36 days.

 

There was a five percent month over month (MoM) increase in new contract activity with 271 new pendings; a 5.9 percent MoM increase in all pendings (new contracts + contracts carried over from December) to 397; and a 14.2 percent decrease in supply to 127 active units.

 

This activity resulted in a Contract Ratio of 3.13 pendings per active listing, up from 2.53 in December 2021 and an increase from 1.95 in January 2021. The Contract Ratio is 110 percent higher than the five-year January average of 1.49. 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.

 

Visit www.hcar.org for more information.