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March 2011 Real Estate Statistics for Montgomery County, Maryland

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%

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.

Crucial Questions

Make sure you're dealing with a reputable company that keeps their word, so you don't end up in a lose-lose situation.

If somone cannot answer yes to all of these questions, how can you trust them to do what they say?

Work with Express Homebuyers and you'll have both Peace of Mind and Cash In Your Pockets.

  • Do they have proof of $$ in the bank that shows they are making an honest offer?
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  • Will they provide up to a $10,000 cash advance to help with expenses when moving?
  • Do they have a physical office and staff to help you through the entire process, or are they just working out of their car?

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