Focus On: Howard County Housing Market March 2011

Units Sold Active Inventory Median Sale Price Days On Market

205 1,314 $313,000 87
400 2,000 450,000 120
350 400,000
100
300 1,500 350,000
300,000 80
250
250,000
200 1,000 60
200,000
150 150,000 40
100 500 100,000
20
50 50,000
0 0 0 0

M-09 J-09 N-09 M-10 J-10 N-10 M-11 M-09 J-09 N-09 M-10 J-10 N-10 M-11 M-09 J-09 N-09 M-10 J-10 N-10 M-11 M-09 J-09 N-09 M-10 J-10 N-10 M-11

Down Down -10% Down Up 36%

Vs. Year Ago Vs. Year Ago Vs. Year Ago Vs. Year Ago

Units Sold*
Sold Detached Sold Attached Sold Condo/ Coop
250
Units Sold
200
There was an increase in total units sold in March, with 205
sold this month in Howard County. This month's total units
150
sold was lower than at this time last year.

100

50

0
Active Inventory*
Active Detached Active Attached Active Condo/ Coop
2,000
1,800
1,600
1,400
1,200
Active Inventory 1,000
Versus last year, the total number of homes available this 800
month is lower by 141 units or 10%. The total number of 600
400
active inventory this March was 1,314 compared to 1,455 in
200
March 2010. This month's total of 1,314 is higher than the
0
previous month's total supply of available inventory of 1,239,
an increase of 6%.

Median Sale Price

400,000 Median Sale Price
350,000 Last March, the median sale price for Howard County Homes
300,000 Mar-10 was $340,170. This March, the median sale price was
$340,170 Mar-11 $313,000, a decrease of $27,170 compared to last year. The
250,000
$313,000 current median sold price is lower than in February.
200,000
150,000
100,000
50,000
Median sale price is the middle sale price in a given month. The same number
0 of properties are above & below the median.

*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster’s
knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not
reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not
constitute an opinion of MRIS or Long & Foster Real Estate, Inc.
Focus On: Howard County Housing Market March 2011

New Listings Current Contracts Sold Vs. List Price Months of Supply
535 302 97.7% 6.4
800 500 100% 10
700 99%
400
600
98%
500 300
400 97% 5
300 200
96%
200 100 95%
100
0 0 94% 0

M-09 J-09 N-09 M-10 J-10 N-10 M-11 M-09 J-09 N-09 M-10 J-10 N-10 M-11 M-09 J-09 N-09 M-10 J-10 N-10 M-11 M-09 J-09 N-09 M-10 J-10 N-10 M-11

Down -13% Up 1% No Change Up 6%

Vs. Year Ago Vs. Year Ago Vs. Year Ago Vs. Year Ago

Months Of Supply

Months of Supply
9.3
9.2
9.1

10
8.5
8.1

9
7.6

7.6

7.6
7.4

In March, there was 6.4 months of supply available in Howard

7.4
7.2

8
6.8

6.4
6.3

County, compared to 6.1 in March 2010. That is an increase

6.1

6.1

7
5.7

5.6
5.2
5.2

5.1
5.1
5.0

4.9

6 of 6% versus a year ago.

4.7

5
4
3
Months of supply is calculated by dividing current inventory by current sales. It
2
indicates how many months would be needed to sell all of the inventory
1
available at the current rate of demand.
0

New Listings & Current Contracts

Number of New Listings Total Pending
800
700

New Listings & Current Contracts 600

500
This month there were 535 homes newly listed for sale in
400
Howard County compared to 615 in March 2010, a decrease
300
of 13%. There were 302 current contracts pending sale this
200
March compared to 299 a year ago. The number of current
100
contracts is 1% higher than last month.
0

Sale Price/ List Price & DOM

Avg Sale / Avg List Average DOM
98% 120

98% 100 Sale Price to List Price Ratio

97% 80
In March, the average sale price in Howard County was 97.7%
of the average list price, which is similar compared to a year
97% 60
ago.
96% 40

96% 20 Days On Market

95% 0 This month, the average number of days on market was 87,
higher than the average last year, which was 64, an increase
of 36%.

*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster’s
knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not
reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not
constitute an opinion of MRIS or Long & Foster Real Estate, Inc.