Sales, Listings Up In HoCo Even With A Shortage Of Available Homes

HOWARD COUNTY, MD — An increase in home sales and newly listed homes occurred in Howard County in August 2021, even with the ongoing shortage of available housing. New residential listings were up 6.6 percent compared to the same time last year while active listings were down 14.5 percent, according to the latest data from the Howard County Association of Realtors.

There were 560 homes sold in August this year, up 8.3 percent from last year, and the average days on market sat at 11, which is 54.2 percent lower than the same time last year. The average sale price was $558,324, which is up 8.4 percent compared to the same time last year.

There currently is a contract ratio of 1.96 pending contracts per active listing in Howard County, which is higher than the 5-year August average of 1.10. When comparing the contract ratio to recent months, it shows that the market is starting to move in the buyer's favor as it is down from 2.29 in July 2021.

"The Howard County housing market is still strong as homes continue to sell quickly and low interest rates have encouraged buyers to step into the market," HCAR President Shirley Matlock said. "Compared to recent months, we are seeing a slight increase in available inventory which may create more opportunities for homebuyers in Howard County."