Howard County, MD Real Estate Market Report December 2016
Looking to BUY or SELL a Central Maryland Home? Call 240-389-EPIK or use our 15 second Home Value Estimator
December's Market Outlook shows a stable real estate trend to close out the end of 2016! Howard County is Centrally located and very large with 28 zip codes that touch 4 other county borders. The inventory is slightly lower than last year, but units sold is up, along with Pending Contracts. Let’s take a look at some of the Major indicators for this month’s Real Estate Market Report Health!
Indicator #1 - Homes Sold
There were 381 homes sold in December 2016, compared with just 355 this same time last year. The listing to Sold Price is solid at 96.9%, impressive for this season. Homes are being priced competitively and serious buyers are not wasting time looking and putting in contracts on homes they love. The Average Sold Price is $452,719 up from $414,855 in December of last year. Sellers have a very safe investment here, and if they were contemplating putting their home on the market in Spring, they may want to reconsider given these numbers. With Many Government contracts constantly changing, there really is no “down time” in this area. Many who work in DC choose to live in Howard County for it’s great education system, community and way of life.
ALERT - If you have been thinking about buying for more than a year - now is the time! Contact us for information on How to Get Ready to Buy (and/or How to Get Ready to Sell if you have a home to sell as well!)
Indicator #2 - Active Listings
Inventory in Howard County, MD is lower than last December with just 804 active listings, a 18% decrease. 260 of these listings are new, and there are currently 294 pending contract Sales for December 2016. Overall these are very good signs for a Strong Winter Market, we expect to see this trend continue.
That is what we have been saying here at The EPIK Home Group of Keller Williams for a while - prices have stabilized and homes are selling fast while interest rates are still LOW!
Indicator #3 - Days on Market
The Average Days on the Market remained stable with 64 days, from 63 Days this time last December. This includes high priced areas such has Clarksville, MD., a Great sign for Howard County.! The median Sold Price for homes in the area is $397,500 which is stable, and is encouraging for 1st time homebuyers, or new families to seek out homes here. Investments are safe, and with lower inventory, buyers are taking their time choosing which home to call their own.
Why Live in Howard County?
Howard County, MD is a great place to live with nationally recognized 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 surprise this area between Baltimore and Washington, DC continues to have a very active real estate market! Read on for more details of the Howard County, MD real estate market!
Even if you already live in Howard County- 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!
Click here to check out any area in Howard County - this is an example of the Ellicott City MD Real Estate active listings but you can put in any zip code you want. (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).
Would you like to know what your home is worth? Send us your address and we'll look at your potential market value!
LIKE US ON FACEBOOK TO FOLLOW OUR BLOG AND GET LOCAL INFORMATION!
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!