Hi Kara- In a market like this, the first thing to do is determine your motivation level. If you really don't want or need to sell, then you will likely overprice, sit for a long time, possibly not sell, and feel very frustrated. If you are considering moving up in value, then it is still a good time to move. Even if your home does not sell for quite what you are expecting, the home you buy will likely be attainable for a price that will satisfy you.
I just helped a couple sell their townhome in Columbia. They got less than they hoped for, but they were able to buy a home much nicer than they thought they could. And they didn't pay a dime in closing costs for the new home.
If you are motivated now is a great time. If you just want to test the waters, not so great. And, if you overprice, you will just be helping other people sell! Click below for February price info for Howard County