Read the August 2011 real estate statistics for Montgomery County, Maryland as reported by Brad Chandler of Express Homebuyers.
At an average sales price of $494,944, there was a solid 5.5 percent increase in homes sold in Montgomery County, Maryland, as compared to the sales made in 2010, indicating a very stable real estate market in the county. This year however, there was a slight decrease of 6 percent from the sales of homes last year to the 847 being sold in August, taking an average of 69 days to complete the sale as opposed to the 66-day sale period the prior year.
In July, there were 907 houses sold. If this pace continues with no new homes to replace the ones being sold, housing units for sale would run out in 3.5 months. Sellers are coming relatively close to their asking price come closing, getting 94 percent of their asking price.
In Montgomery County, 3,247 homes sold this year in August, which is 12 percent fewer than last August. Additionally, the number of housing units that entered the sales market decreased to about 985 units; this is a 21 percent decrease from the previous year. A 4 percent increase of contracts made in home selling this year is another very positive factor.
Reviewing these August 2011 real estate statistics for Montgomery County in Maryland point to a healthy and stable real estate market. For more information about these numbers or to sell your Montgomery County home, contact Express Homebuyers. We are here to guide you all the way.
|Montgomery County, MD||August-2011||August-2010||% Change|
|Avg Sold Price||$498,944||$472,753||5.54%|
|Median Sold Price||$379,900||$384,000||-1.07%|
|Avg Days on Market||69||66||4.55%|
|Avg Sold Price to List Price||94.4%||94.4%||-0.01%|