March 2011 Real Estate Statistics for Montgomery County, Maryland
Over 4,000 homeowners have trusted US to buy their home.
For homeowners in Montgomery Country, Maryland, home prices are improving. Fortunately the area has a fairly healthy market.
The median sold price is up slightly while the average sold price improved significantly from the previous year. It’s still not easy to sell a house fast, though. There has been a significant drop in units sold and a significant increase in days on market.
In terms of supply, in February 2011 there were 525 homes sold. When divided into the number of active listings, it signifies a 6-month supply of houses. This is a slight increase from the prior month, and it indicates a healthy market (defined by a 5-6 month supply).
Active listings were down in Montgomery County, and new listings were significantly down. This is most likely a result of the legal battles between the US government and the banks that are stalling the release of foreclosed properties. REOs, or Real Estate Owned, are what a bank calls the properties they take back through the foreclosure process.
|Montgomery County, MD||Mar-2011||Mar-2010||% Change|
|Avg Sold Price||$450,671||$398,807||13.00%|
|Median Sold Price||$332,450||$324,250||2.53%|
|Avg Days on Market||92||69||33.33%|
|Avg Sold Price to List Price||92.8%||95.5%||-2.81%|
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.
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