Homeowners following the monthly Real Estate Statistics for Montgomery County, Maryland can see Brad Chandler’s summary of the Sept. 2011 figures.
In Montgomery County, in September, the average sales price of a home sold in September ($436,709) was up 2.5 percent from a year earlier, but the 673 homes sold represent a 16% decline from last September. Selling after 72 days on the market lat year, those homes took on average 77 days to sell this year. Sellers can expect to average 94% of what they list their home for. On a $100,000 home they would end up selling it for about $94,000.
Falling Housing Inventory
Based on 847 homes being sold in August, there is just over a 4-month supply of homes in Montgomery County. This means that if buyers continued to buy at the same pace as they did in August 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 4 months. The number of homes for sale decreased 12 percent from a year ago to 3,471 homes, while the number of homes that came on the market decreased almost 9% to 1,301 homes.
New Contracts Up
The number of new contracts that buyers placed on homes for sale increased over 5% from a year ago. This slight uptick in buyer activity could be attributed to low interest rates. Most of the above factors indicate a very healthy real estate market in Montgomery County. If you have any questions about this information or selling your Montgomery County house fast please contact us at the number above.
|Montgomery County, MD||September 2011||September 2010||% Change|
|Avg Sold Price||$436,709||$426,118||2.49%|
|Median Sold Price||$338,000||$326,000||3.68%|
|Avg Days on Market||77||72||6.94%|
|Avg Sold Price to List Price||93.9%||93.9%||-0.04%|