The month of January saw only 273 homes listed for sale in Howard County. This represents an 8% decrease in supply year or over year and a 10-year low! This low supply resulted in a 3% increase in the median home sale price compared to January of 2021. However, this supply trend is reversing in February. We will have to wait and see how things shake out, but as of right now February 2022 supply in Howard County is on pace to increase roughly 20% compared to February of 2021 and be more in line with the historic norms for housing supply in the county. On the demand side, days on market still remains ridiculously low compared to the historic norms. So ultimately for sellers, it still remains a great time to sell in Howard County. Homes are selling quick and at all time high prices. On the buyer front, it looks as though they will still need to make decisions quickly with the average days on market remaining low but with supply ticking up at least they have more options to chose from.
This entry was posted on Sunday, February 20th, 2022 at 1:21 am.
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