April brought mixed results to the real estate market in Montgomery County, Maryland. People looking to sell their house saw a drop of nearly 22% in total houses sold. The average and median sale prices rose slightly from the previous year but declined slightly from March 2011.
The big drop in April was the number of houses sold. Home sales in Montgomery County were down nearly 22% from the previous year. Houses were on the market 29% longer in April, but are still selling quickly relative to other regions.
There is a 5 month supply of houses for sale in Montgomery County, a slight decrease from the previous month.
New listings in Montgomery County were down significantly. This is likely due to legal battles between the U.S. government and bank that have slowed the release of REO properties (Real Estate Owned) – what the bank calls properties that are taken back through the foreclosure process.
Montgomery County is still a healthy market in terms of sales prices and supply, but buyers are becoming less active with a 23% decline in pending contracts from the previous year. We can help sell your house fast in Montgomery County, Maryland.
|Montgomery County, MD||Apr-2011||Apr-2010||% Change|
|Avg Sold Price||$436,537||$425,250||2.65%|
|Median Sold Price||$350,000||$345,000||1.45%|
|Avg Days on Market||81||63||28.57%|
|Avg Sold Price to List Price||93.7%||95.5%||-2.00%|
If you are having trouble selling your house, call us today at 1-877-907-3232 or contact us to get an offer in hours from Express Homebuyers.