The Long & Foster Market Minute

Focus On: Montgomery County Housing Market January 2019

Units Sold
546
Active Inventory
1,695
Median Sale Price
$400,000
Days On Market
68
Down -21%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -1%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 546 sold this month in Montgomery County Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 13 units or 1%. The total number of active inventory this January was 1,695 compared to 1,682 in January 2018. This month's total of 1,695 is lower than the previous month's total supply of available inventory of 2,072, a decrease of 18%.

Median Sale Price
Last January, the median sale price for Montgomery County Homes was $410,000. This January, the median sale price was $400,000, a decrease of 2% or $10,000 compared to last year. The current median sold price is 6% lower than in December.

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


New Listings
992
Current Contracts
782
Sold Vs. List Price
98.5%
Months of Supply
3.1
Up 11%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 0.5%
Vs. Year Ago
Up 27%
Vs. Year Ago

Months of Supply
In January, there was 3.1 months of supply available in Montgomery County, compared to 2.4 in January 2018. That is an increase of 27% 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 992 homes newly listed for sale in Montgomery County compared to 893 in January 2018, an increase of 11%. There were 782 current contracts pending sale this January compared to 718 a year ago. The number of current contracts is 9% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Montgomery County was 98.5% of the average list price, which is 0.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 68, lower than the average last year, which was 69, a decrease of 1%.

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.