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March 2011 Real Estate Statistics for Montgomery County, Maryland

by bchandler on 11:29 am

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March 2011 Real Estate Statistics for Montgomery County, Maryland

 

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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, MDMar-2011Mar-2010% Change
Avg Sold Price$450,671$398,80713.00%
Median Sold Price$332,450$324,2502.53%
Units Sold756839-9.89%
Avg Days on Market926933.33%
Avg Sold Price to List Price92.8%95.5%-2.81%
Active Listings3,0883,145-1.81%
New Listings1,6381,945-15.78%
New Pendings1,2731,2720.08%

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Categories: Real Estate Statistics