The Long & Foster Market Minute

Focus On: Montgomery County Housing Market August 2018

Units Sold
1,156
Active Inventory
2,812
Median Sale Price
$305,000
Days On Market
40
Down -3%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 1,156 sold this month in Montgomery County Real Estate versus 1,199 last month, a decrease of 4%. This month's total units sold was lower than at this time last year, a decrease of 3% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 571 units or 17%. The total number of active inventory this August was 2,812 compared to 3,383 in August 2017. This month's total of 2,812 is lower than the previous month's total supply of available inventory of 2,937, a decrease of 4%.

Median Sale Price
Last August, the median sale price for Montgomery County Homes was $299,900. This August, the median sale price was $305,000, an increase of 2% or $5,100 compared to last year. The current median sold price is 3% higher than in July.

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


New Listings
1,186
Current Contracts
911
Sold Vs. List Price
97.7%
Months of Supply
2.4
Down -2%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In August, there was 2.4 months of supply available in Montgomery County, compared to 2.9 in August 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.

New Listings & Current Contracts
This month there were 1,186 homes newly listed for sale in Montgomery County compared to 1,215 in August 2017, a decrease of 2%. There were 911 current contracts pending sale this August compared to 927 a year ago. The number of current contracts is 2% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Montgomery County was 97.7% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 40, lower than the average last year, which was 43, a decrease of 7%.

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 TReND 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 TReND or Long & Foster Real Estate, Inc.