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February 2011 Real Estate Statistics for Montgomery County, Maryland

Montgomery County, MDFeb-2011Feb-2010% Change
Avg Sold Price$390,022$398,680-2.17%
Median Sold Price$300,000$324,500-7.55%
Units Sold525550-4.55%
Avg Days on Market937819.23%
Avg Sold Price to List Price92.0%95.0%-3.20%
Active Listings2,8382,7074.84%
New Listings1,0089555.55%
New Pendings89964738.95%

For people needing to sell their house fast in Montgomery County, Maryland, the challenge in February is that it’s taking longer to sell a home there and prices have declined from the previous year. The median sold price dropped by 7.55% while the average sold price declined by just over 2%. Sellers in general are also getting a lower sold price, percentage wise, compared to their original list price. In terms of supply, in January, 2011 there were 557 homes sold. When you divide this into the number of active listings, it signifies a 5.6 month supply of houses, which falls squarely into a typical healthy market of 5-6 months. Active listings and new listings are up roughly 5% from a year ago, while contracts on listed homes (new pendings) are up significantly from a year ago – signifying that sellers are becoming more active and buyers are becoming very active.

If you want to sell your Montgomery County, Maryland home fast, the real estate experts at Express Homebuyers can help.

Crucial Questions

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

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  • 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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