Montgomery County Maryland Housing Market Sept. 2011
Units Sold
There was a decrease in total units sold in September, with 643 sold this month versus 814 last month, a decrease of 21%. This month's total units sold was lower than at this time last year, a decrease of 20% versus September 2010.
Active Inventory
Versus last year, the total number of homes available this month is lower by 706 units or 16%. The total number of active inventory this September was 3,693 compared to 4,399 in September 2010. This month's total of 3,693 is higher than the previous month's total supply of available inventory of 3,577, an increase of 3%
Median Sale Price
Last September, the median sale price was $326,000. This September, the median sale price was $331,500, an increase of 2% or $5,500 compared to last year. The current median sold price is 13% lower than in August.
Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.
Median Sale Price
Last September, the median sale price was $326,000. This September, the median sale price was $331,500, an increase of 2% or $5,500 compared to last year. The current median sold price is 13% lower than in August.
Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.
Months of Supply
In September, there was 5.7 months of supply available in Montgomery County, compared to 5.5 in September 2010. That is an increase of 5% versus a year ago.
Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts
This month there were 1,258 homes newly listed for sale in Montgomery County compared to 1,494 in September 2010, a decrease of 16%. There were 770 current contracts pending sale this September compared to 729 a year ago. The number of current contracts is 6% higher than last month.
Sale Price to List Price Ratio
In September, the average sale price in Montgomery County was 97.1% of the average list price, which is similar compared to a year ago.
Days on Market
This month, the average number of days on market was 62, higher than the average last year, which was 58, an increase of 7%.
For more information regarding your specific market, contact
Barbara Michaluk, Weichert Realtors at 240-506-2434.
Source: MRIS 2011
