February 2011 Real Estate Statistics for Montgomery County, Maryland
|Montgomery County, MD||Feb-2011||Feb-2010||% Change|
|Avg Sold Price||$390,022||$398,680||-2.17%|
|Median Sold Price||$300,000||$324,500||-7.55%|
|Avg Days on Market||93||78||19.23%|
|Avg Sold Price to List Price||92.0%||95.0%||-3.20%|
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.
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- Do they have proof of $$ in the bank that shows they are making an honest offer?
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