The Long & Foster Market Minute

Focus On: Montgomery County Housing Market January 2018

Units Sold
670
Active Inventory
1,652
Median Sale Price
$400,500
Days On Market
48
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -10%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 670 sold this month in Montgomery County Real Estate versus 953 last month, a decrease of 30%. This month's total units sold was lower than at this time last year, a decrease of 10% versus January 2017.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 496 units or 23%. The total number of active inventory this January was 1,652 compared to 2,148 in January 2017. This month's total of 1,652 is lower than the previous month's total supply of available inventory of 1,869, a decrease of 12%.

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Median Sale Price
Last January, the median sale price for Montgomery County Homes was $390,000. This January, the median sale price was $400,500, an increase of 3% or $10,500 compared to last year. The current median sold price is 3% 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.

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New Listings
891
Current Contracts
762
Sold Vs. List Price
97.9%
Months of Supply
2.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -13%
Vs. Year Ago
Down -3%
Vs. Year Ago
No Change
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In January, there was 2.5 months of supply available in Montgomery County, compared to 2.9 in January 2017. That is a decrease of 15% 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 891 homes newly listed for sale in Montgomery County compared to 1,027 in January 2017, a decrease of 13%. There were 762 current contracts pending sale this January compared to 787 a year ago. The number of current contracts is 3% lower than last January.

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Click here to compare the current contracts of this area against other locations.
Sale Price to List Price Ratio
In January, the average sale price in Montgomery County was 97.9% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 48, lower than the average last year, which was 54, a decrease of 11%.

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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.