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Howard County Real Estate Trends for April 2009 ~ The Glass is Over Half Full

By Tom Yeatts

Real Estate Agent with Keller Williams Select Realtors

May 15, 2009 01:11 AM

Several big things here. New inventory is coming on faster than it's clearing, with 520 new listings and 318 contract and contingent offers accepted. Average list price is down 5.37%, which is less than I anticipated, but volume is still way off, even from last year, with dollar volume down over 20%.

It's the less expensive housing that's moving the fastest in this market. Makes sense, with the $8,000 first time buyer's tax credit and crazy low interest rates!

Here are the raw numbers for Howard County:

Howard County Real Estate Trends, April 2009

Metropolitan Regional Information Systems, Inc. Real Estate Trend Indicator - $5M Format

Howard County, MD
From: 04/01/2009 to 04/30/2009 Statistics generated on: 05/06/2009

	Residential Unit Sales Number of Bedrooms	Active Listings		Time on Market
Price Class	2 Or Less	3	4 or More	Condo Coop	Ground Rent	Residential	Condo Coop	Ground Rent	of Units Sold (No. of Units)
Under $100,000	0	0	0	0	0	2	2	5	1 -30 Days	52
$100,000 - 149,999	0	0	0	2	0	4	28	0	31-60 Days	38
$150,000 - 199,999	1	2	0	11	0	25	59	0	61 - 90 Days	15
$200,000 - 249,999	0	13	1	14	1	69	66	1	91-120 Days	21
$250,000 - 299,999	1	21	6	2	0	156	59	2	Over 120 Days	79
$300,000 - 349,999	0	16	9	3	0	138	32	1	Total	205
$350,000 - 399,999	0	9	8	4	0	128	35	0
$400,000 - 449,999	0	3	16	0	0	100	12	0	Type of Financing of Units Sold (No. of Units)
$450,000 - 499,999	0	2	9	0	0	99	14	0
$500,000 - 599,999	0	3	26	0	0	204	15	0	Conventional	95
$600,000 - 699,999	0	0	15	0	0	159	1	0	FHA	70
$700,000 - 799,999	0	0	2	0	0	88	2	0	VA	24
$800,000 - 899,999	0	0	2	0	0	60	0	0	Assumption	8
$900,000 - 999,999	0	0	0	0	0	62	0	0	Cash	8
$1,000,000 - 2,499,999	0	0	3	0	0	129	0	0	Owner Finance	0
$2,500,000 - 4,999,999	0	0	0	0	0	3	0	0	All Other	0
$5,000,000 & Over	0	0	0	0	0	2	0	0	Unreported	0
Totals	2	69	97	36	1	1428	325	9	Total	205
Grand Totals	205	1762

	2009	2008	% Change
Total Sold Dollar Volume:	$ 80,118,225	$ 100,479,182	- 20.26 %
Average Sold Price:	$ 390,821	$ 427,571	- 8.60 %
Median Sold Price:	$ 349,900	$ 375,000	- 6.69 %
Total Units Sold:	205	235	- 12.77 %
Average Days on Market:	113	110	2.73 %
Average List Price for Solds:	$ 433,323	$ 457,937	- 5.37 %
Avg Sale Price as a percentage of Avg List Price:	90.19 %	93.37 %

Total Number of NEW listings

taken for the month:	520
Total Number of Properties

marked Contract for the month:	200
Total Number of Properties
marked Contingent for the month:	118
Total Number of NEW pendings
(CONTRACTS + CONTINGENTS):	318

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2009 - Information deemed reliable, but is not guaranteed.

What does this really mean? Call us today at 301.785.5889 for a no-hassle explanation!

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Tom Yeatts

Keller Williams Select Realtors - Ellicott City, MD

BTW, the increase in inventory is seasonal, and very predictable, so that's not a big source of concern for me. I see the lower than expected price decline (down less than 6% over last year) as a huge positive sign. Montgomery County, for example, is showing a price decline of about 20% from April to April of last year. HUGE DIFFERENCE!

May 15, 2009 01:15 AM

Fred Griffin Florida Real Estate

Fred Griffin Real Estate - Tallahassee, FL

Licensed Florida Real Estate Broker

We invite you back to ActiveRain in 2017.

Much has changed since your last blog post.

Best to you!

Jul 14, 2017 06:49 PM

Howard County Real Estate Trends for April 2009 ~ The Glass is Over Half Full

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Tom Yeatts

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