Ellicott City, MD Real Estate Market Report for December 2016
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December is showing stable numbers for the market in Ellicott City, MD. with great home values, contracts, and inventory. Remember, Ellicott city is very large with several zip codes, but as with most larger metropolitan areas, there are pockets that do better than others. So, Let’s take a look at some of the Major indicators for this month’s Real Estate Health!
# 1- SOLD PRICE
The average sold price for detached homes in Ellicott City, MD in December 2016 was $491,250 .
This is a small increase in value of about 5% compared with December 2015. The number of Units sold this month was almost identical to last year. List to Sold Price also stayed strong at 96.8%, homes are being priced very well for the area. There are some very serious and active buyers looking here, and taking their time to find that perfect home. Sellers should take comfort that the homes are being sold with little fluctuation in price, and anyone thinking they should wait till spring to list, may want to reconsider and list sooner.
ALERT - If you have been thinking about selling for more than a year - now is the time as interest rates remain low and inventory is moving! Contact us for information on How to Get Ready to Sell (or How to Get Ready to Buy if you are looking to move into this area!)
# 2 - AVERAGE DAYS ON MARKET
This is where we see a very nice change. The average Days on the Market dropped to just 49 days from 62! Which is surprising considering December is when most people are thinking about Christmas, and the upcoming New Years. Things are picking up steam here! It’s a great time for families looking to get a warm inviting feeling about the homes they visit! Pending sales remained stable with 72, last December had a pending point at 77.
Click here to see the Ellicott City MD Real Estate active listings right now! (Feel free to save this link, it updates as the Ellicott City MD Real Estate market changes- you will always have the live market update).
# 3- NEW LISTINGS
There are currently 196 active listings in Ellicott City, MD , 70 of these homes are new for December 2016. The inventory is lower than it was last year, which had 229 properties available. All pending sales totaled 120, which is nearly identical from this time last year as well. Overall, Ellicott City looks to have a very strong winter market with a good chance of staying strong throughout winter and into spring.
Do you love reading all the details? Click this link for all the current updates on Ellicott City MD.
LIVING IN ELLICOTT CITY
Our area is so wonderful that many people do not move out once they move in! Using a local Realtor like EPIK Home Group is a great move since we are in touch with many homeowners even before they are ready to sell!
Ellicott City in Howard County, MD is a great place to live with excellent public schools, lots of outdoor parks and recreation opportunities, an award winning historic main street and countless options for working, shopping and dining - no wonder this area between Baltimore and Washington, DC continues to have a very active real estate market!
What does this 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.
Even if you already live in Ellicott City- it is always a good idea to know what homes are selling for in your area since selling prices affect your home's value as well!
Read on for more details of this active market!
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Our experienced team here at EPIK Home Group loves telling you about the area with local neighborhoods updates and information. Real Estate is local, so you deserve a local Realtor who not only knows the housing market, but knows Howard County/Catonsville, the amenities, the local events and resources that you will need. Consistently in the top 1% of Realtors in Howard County/Catonsville, EPIK Home Group is here to help you with all your Real Estate needs!