The Long & Foster Market Minute

Focus On: Montgomery County Housing Market February 2019

Units Sold
485
Active Inventory
2,105
Median Sale Price
$262,500
Days On Market
73
No Change
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 16%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 485 sold this month in Montgomery County Real Estate, a decrease of 14%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 511 units or 20%. The total number of active inventory this February was 2,105 compared to 2,616 in February 2018. This month's total of 2,105 is lower than the previous month's total supply of available inventory of 2,193, a decrease of 4%.

Median Sale Price
Last February, the median sale price for Montgomery County Homes was $257,200. This February, the median sale price was $262,500, an increase of 2% or $5,300 compared to last year. The current median sold price is 13% lower than in January.

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


New Listings
1,016
Current Contracts
820
Sold Vs. List Price
96.6%
Months of Supply
4.3
Down -7%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -20%
Vs. Year Ago

Months of Supply
In February, there was 4.3 months of supply available in Montgomery County, compared to 5.4 in February 2018. That is a decrease of 20% 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 1,016 homes newly listed for sale in Montgomery County compared to 1,093 in February 2018, a decrease of 7%. There were 820 current contracts pending sale this February compared to 792 a year ago. The number of current contracts is 4% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Montgomery County was 96.6% of the average list price, which is 1.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 73, higher than the average last year, which was 63, an increase of 16%.

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.