The following is your October 2011 Real Estate Statistics for Montgomery County, Maryland
In Montgomery County, the average sales price of a home sold in October was $411,221, a decrease of 6.45 percent from a year earlier. 634 homes were sold in October, a 9.43 percent decline from last October. Disappointing news for sellers: Those homes took on average 85 days to sell, an increase from 68 days a year ago. Based on 673 homes being sold in September, there is almost a 5-month supply of homes in Montgomery County. In other words, if buyers continued to buy at the same pace as they did in September each month going forward, and there were no new homes placed on the market for sale, the supply of houses for sale would run out in 5 months. Sellers are getting on average 92.6 percent of what they list their home for. A seller who listed the home for $100,000 would, on average, ended up selling it for $92,000. The number of homes that came on the market decreased almost 11 percent to 1,040 homes, as the number of homes for sale decreased 11 percent from a year ago to 3,263 homes. Quite possibly, this decrease resulted from the foreclosure process coming to a halt in late 2010. Reportedly, this will soon change and the banks will get back to processing foreclosures. The number of new contracts that buyers placed on homes for sale increased 6 percent from a year ago. This indicates a slight uptick in buyer activity and could be attributed to lower interest rates. Though things seem to have slipped a bit, most of the above factors indicate a fairly healthy real estate market in Montgomery County. If you are interested in selling your Montgomery County house fast or if you have any questions about this information, please contact us at the number above.
|Montgomery County, MD||October 2011||October 2010||% Change|
|Avg Sold Price||$411,221||$439,590||-6.45%|
|Median Sold Price||$327,250||$350,000||-6.50%|
|Avg Days on Market||85||68||25.00%|
|Avg Sold Price to List Price||92.6%||93.6%||-1.14%|