The Long & Foster Market Minute

Focus On: Montgomery County Housing Market June 2019

Units Sold
1,316
Active Inventory
2,474
Median Sale Price
$487,512
Days On Market
35
Down -9%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 21%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 1,316 sold this month in Montgomery County Real Estate versus 1,386 last month, a decrease of 5%. This month's total units sold was lower than at this time last year, a decrease of 9% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 294 units or 11%. The total number of active inventory this June was 2,474 compared to 2,768 in June 2018. This month's total of 2,474 is lower than the previous month's total supply of available inventory of 2,777, a decrease of 11%.

Median Sale Price
Last June, the median sale price for Montgomery County Homes was $479,900. This June, the median sale price was $487,512, an increase of 2% or $7,612 compared to last year. The current median sold price is 5% higher than in May.

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


New Listings
1,689
Current Contracts
1,383
Sold Vs. List Price
99.3%
Months of Supply
1.9
Down -1%
Vs. Year Ago
Up 11%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 1.9 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 1,689 homes newly listed for sale in Montgomery County compared to 1,712 in June 2018, a decrease of 1%. There were 1,383 current contracts pending sale this June compared to 1,250 a year ago. The number of current contracts is 11% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Montgomery County was 99.3% 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 35, higher than the average last year, which was 29, an increase of 21%.

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.