Howard County, Maryland
The median sale price for single-family houses and townhouses in Howard County rose 6 percent last year, a smaller increase than in its suburban Maryland neighbors.
That does not mean housing is cheap -- at $407,289, the median sales price is still second only to Montgomery County among the seven Maryland jurisdictions included in a Washington Post analysis of state sales records for single-family houses and townhouses. Condominium sales were not included.
Many home buyers are drawn to the county for its location midway between Washington and Baltimore and its well-respected school system. Still, the 6 percent increase in median sale price is a significant slowdown from the previous two years, when prices increased by more than 20 percent each year.
In 2006, there were only a few places that experienced such sharp jumps. In Zip code 20759, which includes Fulton, the median price jumped 20 percent, to $775,000, mostly because of the new Maple Lawn development, which has homes in the $1 million range.
The median home price for Zip code 21737, known for the Glenelg school system and houses with high acreage, increased 20 percent to $825,000, making it the priciest Zip code in the county.
Elsewhere, "sellers have had to lower their prices to a more realistic figure," said Ilene Kessler, an agent with Re/Max Advantage Realty in Columbia and president of the Maryland Association of Realtors. "But people are still making money in real estate."
In Columbia, the planned community where about 40 percent of the county's population lives, median sale price increases were on par with the county average -- rising 6, 8 and 9 percent in Zip codes 21046, 21044 and 21045, respectively. Median sales prices for the three Zip codes ranged from $351,000 to $399,000.
In nearby Elkridge, the median sale price increased 6 percent, but there was a notable jump in sales volume, to more than 500 last year from less than 400 in 2005. Real estate agents attributed that to new construction along the Route 1 corridor. Likewise, Zip code 20723, which includes Laurel, saw an increase in sales activity, as well as an 11 percent increase in the median home price, to $367,000.
"The Route 1 corridor has traditionally been thought of in lesser terms than the rest of Howard County," said John Hurly, an agent with Long & Foster. "Elkridge and Laurel and Savage are still some of the best buys in the county." Zip code 20763, which includes Savage, had the lowest median sale price, at $319,750.
Zip code 21104 was one of the few areas where the median price fell. Real estate agents said the 14 percent decrease, to $594,555 from $692,000, was because of sales of newly built homes in Marriottsville in prior years, which caused prices to spike then. Most of the homes sold in 2006 were older houses, which typically sell for less.
Recent announcements of businesses moving headquarters to Howard County, such as the database marketing company Merkle, have real estate agents optimistic about housing prices. "All these new jobs will keep things steady and positive," said Pat Hiban, an agent with Keller-Williams Select in Clarksville.
-- Julia Feldmeier, Washington Post Staff Writer
That does not mean housing is cheap -- at $407,289, the median sales price is still second only to Montgomery County among the seven Maryland jurisdictions included in a Washington Post analysis of state sales records for single-family houses and townhouses. Condominium sales were not included.
In 2006, there were only a few places that experienced such sharp jumps. In Zip code 20759, which includes Fulton, the median price jumped 20 percent, to $775,000, mostly because of the new Maple Lawn development, which has homes in the $1 million range.
The median home price for Zip code 21737, known for the Glenelg school system and houses with high acreage, increased 20 percent to $825,000, making it the priciest Zip code in the county.
Elsewhere, "sellers have had to lower their prices to a more realistic figure," said Ilene Kessler, an agent with Re/Max Advantage Realty in Columbia and president of the Maryland Association of Realtors. "But people are still making money in real estate."
In Columbia, the planned community where about 40 percent of the county's population lives, median sale price increases were on par with the county average -- rising 6, 8 and 9 percent in Zip codes 21046, 21044 and 21045, respectively. Median sales prices for the three Zip codes ranged from $351,000 to $399,000.
In nearby Elkridge, the median sale price increased 6 percent, but there was a notable jump in sales volume, to more than 500 last year from less than 400 in 2005. Real estate agents attributed that to new construction along the Route 1 corridor. Likewise, Zip code 20723, which includes Laurel, saw an increase in sales activity, as well as an 11 percent increase in the median home price, to $367,000.
"The Route 1 corridor has traditionally been thought of in lesser terms than the rest of Howard County," said John Hurly, an agent with Long & Foster. "Elkridge and Laurel and Savage are still some of the best buys in the county." Zip code 20763, which includes Savage, had the lowest median sale price, at $319,750.
Zip code 21104 was one of the few areas where the median price fell. Real estate agents said the 14 percent decrease, to $594,555 from $692,000, was because of sales of newly built homes in Marriottsville in prior years, which caused prices to spike then. Most of the homes sold in 2006 were older houses, which typically sell for less.
Recent announcements of businesses moving headquarters to Howard County, such as the database marketing company Merkle, have real estate agents optimistic about housing prices. "All these new jobs will keep things steady and positive," said Pat Hiban, an agent with Keller-Williams Select in Clarksville.
-- Julia Feldmeier, Washington Post Staff Writer
Housing Outlook 2007
The latest on the state of the Washington, D.C., residential real estate market.
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SOURCE: Full-value transactions as reported by the state
MAP: Dan Keating and Nathaniel Vaughn Kelso - The Washington Post
© 2007 The Washington Post Company
