Is Howard County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Howard County has remained a Seller's Market.
Key Takeaway
Howard County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Howard County, MD
How much do homes in Howard County, MD cost?
Median Sold Price
$549,996
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Howard County have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Howard County was $549,996 in March 2024, up 5.8% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $182.7K | +10.8% |
| 2 Bedrooms | $305K | $320K | +4.9% |
| 3 Bedrooms | $430.6K | $464.4K | +7.8% |
| 4 Bedrooms | $640.8K | $684.6K | +6.8% |
| 5+ Bedrooms | $875.3K | $899.4K | +2.8% |
Summary: Howard County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.8%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Counties
| Anne Arundel County | $449.9K | $480K | +6.7% |
| Baltimore County | $315K | $335.5K | +6.5% |
| Howard County | $519.7K | $549.9K | +5.8% |
| Carroll County | $416.7K | $439.6K | +5.5% |
| Montgomery County | $559.6K | $583.7K | +4.3% |
Housing Supply in Howard County, MD
How many homes are available in Howard County, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 896 | 954 | +6.5% |
Summary: The Howard County real estate market had 954 homes for sale in March 2024, a 6.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 9 | +12.5% |
| 2 Bedrooms | 115 | 125 | +8.7% |
| 3 Bedrooms | 265 | 277 | +4.5% |
| 4 Bedrooms | 303 | 329 | +8.6% |
| 5+ Bedrooms | 205 | 214 | +4.4% |
Summary: The Howard County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 4.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 173 | 211 | +22.0% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
130 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Howard County, you could pay more than the asking price. 61.6% of homes here sold above asking price last month.
Summary: A total of 211 homes were sold or pending in Howard County in March 2024, up by 22.0% month-over-month. Of the 211 sold homes, 19% were sold under asking, 19% were sold at asking, and 62% were sold over asking.
Days on Market for Howard County, MD
How long does it take to sell a home in Howard County, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 14 Days | -36.7% |
Summary: Homes in Howard County had an average of 14 days on market in Mar 2024, down by 36.7% compared to last year.
Breakdown of Home Sale Times
187 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Howard County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 211 homes were sold in Howard County; 89% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
