I agree with the statements others have made that it is difficult to use a blanket statement of what one should pay on a $/SF basis for a Home in Howard County. If you were simply building a house on your lot, that calculation would have more value. However, residential real estate is about location & neighborhoods & amenities, and, more recently, you have the impact of something called "shadow inventory" (with short sales & foreclosures & distressed sales). I think you will find Columbia & Fulton are very different from a real estate perspective, although they are only a few miles apart. I would suggest you look at the respective neighborhoods and consider your work commute, shopping amenities, school districts, and condition and age of the surrounding community. Then consider the house itself (style, size, lot size, amenities, conditon, etc.). There are deals out there and it is a "Buyer's Market" but keep in mind it is still Howard County and the local economy, incomes, and future economic outlook in the County (with BRAC @ Ft. Meade and other projects) are relatively stronger than many other areas in Maryland (and the rest of the country). This translates into a relatively stronger housing market than many other areas.
The best way to get a better understanding of the market in Columbia & Fulton is to contact a local realtor and work with he/she on your new purchase. I am confident you will be happy with the results if you contact me. I've lived and worked in Howard County for 35 years and attended high school at Atholton nearby. Feel free to call me for more information. I can be reached at 410-868-8664.
Long & Foster RE, Inc.
This can very greatly depending on the homes age the home, the amenities and various other factors i.e. school district of the house. But typically in Columbia you can spend 300-350K and Fulton slightly more for a homes fitting that description.
Feel free to contact me with any questions 410-505-8781
We really don't go by $'s per s.f. like some other areas. You will need to have an experienced pro prepare a market analysis for you once you choose your home and use that as your guide to a purchase price. By the time you are ready to choose you should have also seen enough homes to be a bit of an expert yourself on comparing size and features for value. Best of luck!
Back in the development, most lots are much larger, filled with mature trees, and really have very little road noise.
I would also add that this part of Howard County is not a buyer's market. Inventory is very low and when homes come on priced correctly, they sell quickly. There a a bunch of homes that are overpriced and sitting, but when you get down to it, there are very few well priced homes staying on the market for more than a week or two.
Thank You for your quick responses.
Example Ryan Homes has Riverside Overlook homes with 2244 sqft being sold for $ 475,000.
I feel considering buyers market, homes not being sold easily, large inventory, price is very high.
How does one know what is the correct price for such homes?
Dollar per square foot is not a great metric for SF homes because it ignores so much. For starters, the square footage you will see is usually just taxable living area, which does not take into account any finished area below grade.
You also have different size lots. Some of the newer communities have very small lots versus larger lots on oldr homes.
There is also a lot of variation based on the schools. Some schools and neighborhoods tend to get more money then others.
My wife and I bought about 5months ago after looking in the same area (Fulton/Columbia). I would be more than happy to share some of what we found as far as variations in the value of homes.
It is almost impossible to say what you can expect for the $ per sq ft since homes prices vary so much by age, lot size, school district, location, etc.
Generally from what you describe you probably are looking at a SFH from 300-400k at about 2,000 sq ft for Columbia. For Fulton you are probably looking more like 500k for a small home like that. Fulton SFH will come on larger lot sizes as the area is more rural. Finally the age of homes will vary from 1960-1985.
Again, all this info is vary general. If you want more accurate info, call me anytime and we can discuss further.