Columbia Real Estate
Columbia is situated conveniently between Baltimore and Washington DC and has a variety of options for commuters. This planned community is arranged into "villages" to facilitate a small-town feel between neighbors. Each village center has various stores and businesses catering to locals. Typically all villages have a grocery store, gas station, liquor store, dry cleaner, and a mix of restaurants and retail. Each village is comprised of smaller neighborhoods, each with its own walking paths and undeveloped land. The schools in Columbia are considered to be some of the best in the region.
On a scale of 1 (Buyer's Market) to 5 (Seller's Market), the current status is 2 in Howard County, mostly but not completely a Buyer's Market. 960 jobs were added to the County during the 4th Quarter of 2007, dropping the unemployment rate from 2.9% to 2.6% creating a slightly more favorable housing market. Adding to that is the fact that mortage interest rates are still historically low.
Following are some broad statistics about the current real estate market in Columbia, divided into zip codes. Reviewing this data will give you a broad understanding of price ranges available, average days on the market, and so on. This data is updated quarterly, so check back periodically.
4th Quarter 2007
Zip 21044
Average Price: $374,200 (-4.39% from last quarter)
Total # Homes Sold: 95
Average Days on Market: 64
Sold Price % of Original Asking Price: 94.4%
Zip 21045
Average Price: $343,500 (+2.63 % from last quarter)
Total # Homes Sold: 120
Average Days on Market: 114
Sold Price % of Original Asking Price: 95.1%
Zip 21046
Average Price: $330,800 (-4.92 from last quarter)
Total # Homes Sold: 33
Average Days on Market: 86
Sold Price % of Original Asking Price: 96.7%