The Long & Foster Market Minute

Focus On: Montgomery County Housing Market April 2020

Units Sold
974
Active Inventory
1,509
Median Sale Price
$500,000
Days On Market
25
Down -16%
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 974 sold this month in Montgomery County Real Estate versus 1,010 last month, a decrease of 4%. This month's total units sold was lower than at this time last year, a decrease of 16% versus April 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 915 units or 38%. The total number of active inventory this April was 1,509 compared to 2,424 in April 2019. This month's total of 1,509 is lower than the previous month's total supply of available inventory of 1,587, a decrease of 5%.

Median Sale Price
Last April, the median sale price for Montgomery County Homes was $463,500. This April, the median sale price was $500,000, an increase of 8% or $36,500 compared to last year. The current median sold price is 8% higher than in March.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
1,071
Current Contracts
824
Sold Vs. List Price
99.7%
Months of Supply
1.5
Down -47%
Vs. Year Ago
Down -41%
Vs. Year Ago
No Change
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In April, there was 1.5 months of supply available in Montgomery County, compared to 2.1 in April 2019. That is a decrease of 26% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 1,071 homes newly listed for sale in Montgomery County compared to 2,030 in April 2019, a decrease of 47%. There were 824 current contracts pending sale this April compared to 1,408 a year ago. The number of current contracts is 41% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Montgomery County was 99.7% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 30, a decrease of 17%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.