Housing Sales In Howard County, Sold Prices Increase In June 2024: Report

HOWARD COUNTY, MD — Housing sales increased again in June 2024, up 2.2 percent from the June 2023 sales pace, according to a report released by the Howard County Association of Realtors.

According to HCAR, in June 2024, the median sold price for residential homes in Howard County was $659,950, representing an increase of two percent compared to the previous month, and an increase of 5.9 percent from June 2023.

The Howard County housing market increased in home demand. As reported by the Bright MLS T3 Home Demand Index, the index for Howard County in June 2024 declined to 91, which indicates that the Howard County market has regressed to steady conditions in comparison to the previous month, the association stated.

Typically, a market with between four and five months of supply indicates a balanced housing market. Currently, there is one month of supply in Howard County, which is 2.5 percent lower than a year ago, which shows the quicker rate of consumption, according to the report.

New listings were down 13.2 percent (317) from last year (365) and down 5.7 percent from the previous month (336). The average days on market for units sold was 13 days, which is a 30 percent increase from the same time last year (10) and 30 percent below the five-year May average of 11 days, the report stated.

Active listings in Howard County were down 9.5 percent (276) compared to the previous year (305). Closed sales (364) saw a 2.2 percent increase compared to the previous year (356) and a 5.8 percent increase compared to the previous month (344).

There was a 10 percent month-over-month (MoM) decrease in new contract activity with 343 new pendings; a 9.1 percent MoM decrease in all pendings (new contracts + contracts carried over from May) to 400; and an 2.6 percent increase in supply to 276 active units.