Despite an increase in active listings, housing inventory remains very low in Howard County, according to the Howard County Association of REALTORS.
Active listings in Howard County during the month of June 2022, were up 8.4 percent (309) compared to the previous year (285). New residential listings (611) saw a 2.4 percent decrease compared to the previous year (626) and a 16.6 percent increase compared to the previous month (524).
The median sales price was $580,000, representing an increase of 4.3 percent compared to the previous month and an increase of 16.5 percent compared to the same time last year.
Closed sales (492) saw a 20 percent decrease compared to the previous year (615) and an 8.8 percent increase compared to the previous month (452). The average days on market for units sold was 8 days, which is an 11.1 percent decrease from the same time last year (9) and 53 percent below the five-year June average of 17 days.
“Although active listings have increased, there is still less than a month of supply,” said HCAR President Sarah Anderson. “We are seeing that this supply-demand imbalance is causing some prospective buyers to decide to exit the market, allowing more options and less competition for those that decide to stay.”
HCAR’s monthly local housing statistics are pulled from the Bright Multiple Listing Service.