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| Focus On: Montgomery County Housing Market | October 2018 | ||
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| Units Sold 904 |
Active Inventory 2,563 |
Median Sale Price $425,000 |
Days On Market 53 |
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| Down -12% Vs. Year Ago |
Down -8% Vs. Year Ago |
Up 8% Vs. Year Ago |
Down -7% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in October, with 904 sold this month in Montgomery County Real Estate versus 885 last month, an increase of 2%. This month's total units sold was lower than at this time last year, a decrease of 12% versus October 2017. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 228 units or 8%. The total number of active inventory this October was 2,563 compared to 2,791 in October 2017. This month's total of 2,563 is lower than the previous month's total supply of available inventory of 2,746, a decrease of 7%. |
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Median Sale Price
Last October, the median sale price for Montgomery County Homes was $395,000. This October, the median sale price was $425,000, an increase of 8% or $30,000 compared to last year. The current median sold price is 1% higher than in September. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 1,420 |
Current Contracts 1,065 |
Sold Vs. List Price 98.8% |
Months of Supply 2.8 |
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| Up 11% Vs. Year Ago |
Up 2% Vs. Year Ago |
No Change Vs. Year Ago |
Up 5% Vs. Year Ago |
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Months of Supply
In October, there was 2.8 months of supply available in Montgomery County, compared to 2.7 in October 2017. That is an increase of 5% 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. |
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New Listings & Current Contracts
This month there were 1,420 homes newly listed for sale in Montgomery County compared to 1,280 in October 2017, an increase of 11%. There were 1,065 current contracts pending sale this October compared to 1,041 a year ago. The number of current contracts is 2% higher than last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Montgomery County was 98.8% 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 53, lower than the average last year, which was 57, a decrease of 7%. | |||
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| *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. | |||
 Information 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. |
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