Columbia MD Real Estate Market Report November 2016
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Columbia, MD has been having a good year so far in 2016. With the Winter Real Estate Market now in play, will it continue? The latest report gives us a very positive yes. From the Sales prices, days on the market, to the inventory, this months outlook seems to be showing a very strong winter in real estate here. Lets take a look at the 3 major indicators that help us determine overall Real Estate health within Columbia, MD!
Indicator #1 - Sold Price & Listing to Sold Ratio
Currently, the Average Sold Price for Columbia, MD for November 2016 is $313,237, a %2 increase from this time last year. The listing to Sold Price Ratios remain stable at 96.6%, showing that homes are being competitively priced. The average days on the market is showing 45, down from 59 days this time last year. 107 properties sold this month, up from just 84 last November. This is great news for Sellers, considering whether or not they should put their home on the market. This real Estate Market Report is starting out very strong for winter 2016-2017!
Indicator #2 - Active Homes on the Market
Total active listings in Columbia MD is 233 right now, down 22% from this time last year. Of those active listings 113 are new and we can see a similar trend continuing with buyer contracts and pending sales. Under new contracts was stable at 72, same with pending sales at 195. With lower inventory buyers are taking their time to look at all their options. But when they find that perfect home, they don’t waste much time in putting in a contract.
Why Live in Columbia?
Columbia is in Howard County, Maryland which receives many national accolades for excellent schools and commitment to community health and open space.
This area is always desirable with job opportunities in government, medical and lots of private industry!
What does that mean for people looking to invest in Howard County Real Estate? It means you want to use a local Realtor who knows the market REALLY well. Call a LOCAL Realtor to help you with your Howard County Real Estate needs.
Check out more details on the Columbia MD Real Estate Market Report- Click this link for all the information on Columbia MD.
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