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% |
| Units Sold | 756 | 839 | -9.89% |
| Avg Days on Market | 92 | 69 | 33.33% |
| Avg Sold Price to List Price | 92.8% | 95.5% | -2.81% |
| Active Listings | 3,088 | 3,145 | -1.81% |
| New Listings | 1,638 | 1,945 | -15.78% |
| New Pendings | 1,273 | 1,272 | 0.08% |
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.
