The Long & Foster Market Minute

Focus On: Montgomery County Housing Market September 2018

Units Sold
860
Active Inventory
2,797
Median Sale Price
$420,000
Days On Market
34
Down -13%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 860 sold this month in Montgomery County Real Estate versus 1,233 last month, a decrease of 30%. This month's total units sold was lower than at this time last year, a decrease of 13% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 395 units or 12%. The total number of active inventory this September was 2,797 compared to 3,192 in September 2017. This month's total of 2,797 is higher than the previous month's total supply of available inventory of 2,744, an increase of 2%.

Median Sale Price
Last September, the median sale price for Montgomery County Homes was $410,000. This September, the median sale price was $420,000, an increase of 2% or $10,000 compared to last year. The current median sold price is 6% lower than in August.

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


New Listings
1,454
Current Contracts
896
Sold Vs. List Price
98.6%
Months of Supply
3.3
Down -10%
Vs. Year Ago
Down -12%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In September, there was 3.3 months of supply available in Montgomery County. The amount of supply is similar compared to 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 1,454 homes newly listed for sale in Montgomery County compared to 1,622 in September 2017, a decrease of 10%. There were 896 current contracts pending sale this September compared to 1,023 a year ago. The number of current contracts is 12% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Montgomery County was 98.6% 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 34, lower than the average last year, which was 38, a decrease of 11%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.