During November 2022, home sales activity in Howard County continued to slow down, which is a trend that generally occurs late in the year; however, the seasonal slowdown was largely due to the fall housing activity being low, according to the Howard County Association of REALTORS.
The median sold price for homes in Howard County was $499,495, representing an increase of 1.9% compared to the previous month, and an increase of 5.2% from Nov. 2021. Although the median home price was higher than it was this same time last year, prices have come down from their summer 2022 peaks.
In the Central Maryland market, the drop has been most significant in Howard County, where November’s median sales price was 15% lower than the peak price in Baltimore County.
New listings were down 16.5% (258) from last year (309) and down 14% from the previous month (300).
The average days on market for units sold was 19 days, which is a 26.7% increase from the same time last year (15) and 31% below the five-year November average of 27 days.
Active listings in Howard County were up 39.7% (299) compared to the previous year (214). Closed sales (242) saw a 43.5% decrease compared to the previous year (428) and a 20.7% decrease compared to the previous month (305).
HCAR’s monthly local housing statistics are pulled from the Bright Multiple Listing Service. The Bright MLS service area includes Maryland, Delaware, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia.