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Focus On: Howard County Housing Market

Units Sold
216
400 350 300 250 200 150 100 50 0 0 500 1,000 1,500

April 2011
Days On Market
75
120 100 80 60 40 20 0

Active Inventory
1,493
2,000

Median Sale Price
$359,950
450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0

A-09 A-09 D-09 A-10 A-10 D-10 A-11

A-09 A-09 D-09 A-10 A-10 D-10 A-11

A-09 A-09 D-09 A-10 A-10 D-10 A-11

A-09 A-09 D-09 A-10 A-10 D-10 A-11

Down -22% Vs. Year Ago
Units Sold*
250 200 150 100 50 0
Sold Detached

Down -4% Vs. Year Ago

Up 6% Vs. Year Ago

Up 39% Vs. Year Ago

Sold Attached

Sold Condo/ Coop

There was an increase in total units sold in April, with 216 sold this month in Howard County versus 209 last month, an increase of 3%. This month's total units sold was lower than at this time last year, a decrease of 22% versus April 2010.

Units Sold

Versus last year, the total number of homes available this month is lower by 61 units or 4%. The total number of active inventory this April was 1,493 compared to 1,554 in April 2010. This month's total of 1,493 is higher than the previous month's total supply of available inventory of 1,352, an increase of 10%.

Active Inventory

2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0

Active Detached

Active Inventory*
Active Attached

Active Condo/ Coop

Median Sale Price
400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0

Apr-10 $338,000

Apr-11 $359,950

Last April, the median sale price for Howard County Homes was $338,000. This April, the median sale price was $359,950, an increase of 6% or $21,950 compared to last year. The current median sold price is 14% higher than in March.

Median Sale Price

Median sale price is the middle sale price in a given month. The same number 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
New Listings
594
800 700 600 500 400 300 200 100 0

April 2011
Months of Supply
6.9
10

Current Contracts
298
500 400 300 200 100 0

Sold Vs. List Price
96.9%
100% 99% 98% 97% 96% 95% 94%

5

0

A-09 A-09 D-09 A-10 A-10 D-10 A-11

A-09 A-09 D-09 A-10 A-10 D-10 A-11

A-09 A-09 D-09 A-10 A-10 D-10 A-11

A-09 A-09 D-09 A-10 A-10 D-10 A-11

Down -19% Vs. Year Ago

Down -33% Vs. Year Ago

No Change Vs. Year Ago

Up 23% Vs. Year Ago

Months Of Supply
9.4

10 9 8 7 6 5 4 3 2 1 0

8.1

7.6

7.6

7.4

7.6

4.7

In April, there was 6.9 months of supply available in Howard County, compared to 5.6 in April 2010. That is an increase of 23% versus a year ago.
Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

7.2

7.4

Months of Supply

8.5

9.3

6.8

6.1

5.7

6.1

5.2

5.2

5.6

5.0

5.1

5.1

4.9

6.3

6.5

6.9

New Listings & Current Contracts
800
Number of New Listings

Total Pending

This month there were 594 homes newly listed for sale in Howard County compared to 730 in April 2010, a decrease of 19%. There were 298 current contracts pending sale this April compared to 448 a year ago. The number of current contracts is 33% lower than last month.

New Listings & Current Contracts

700 600 500 400 300 200 100 0

Sale Price/ List Price & DOM
98% 98% 97% 97% 96% 96% 95%
Avg Sale / Avg List Average DOM

120 100 80 60 40 20 0

In April, the average sale price in Howard County was 96.9% of the average list price, which is similar compared to a year ago.

Sale Price to List Price Ratio

This month, the average number of days on market was 75, higher than the average last year, which was 54, an increase of 39%.

Days On Market

*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.