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| AUGUST 2024 | |||
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| Units Sold 864 |
Active Inventory 1,207 |
Median Sale Price $635,000 |
Days On Market 18 |
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| Down -5% Vs. Year Ago |
Up 10% Vs. Year Ago |
Up 11% Vs. Year Ago |
Up 6% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in August, with 864 sold this month in Montgomery County Real Estate versus 983 last month, a decrease of 12%. This month's total units sold was lower than at this time last year, a decrease of 5% versus August 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 114 units or 10%. The total number of active inventory this August was 1,207 compared to 1,093 in August 2023. This month's total of 1,207 is lower than the previous month's total supply of available inventory of 1,324, a decrease of 9%. |
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Median Sale Price
Last August, the median sale price for Montgomery County Homes was $572,438. This August, the median sale price was approximately the same at $635,000. The current median sold price is 11% higher than in August 2023. 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 849 |
Current Contracts 759 |
Sold Vs. List Price 101.1% |
Months of Supply 1.4 |
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| Down -11% Vs. Year Ago |
Down -2% Vs. Year Ago |
Down -0.7% Vs. Year Ago |
Up 17% Vs. Year Ago |
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Months of Supply
In August, there was 1.4 months of supply available in Montgomery County, compared to 1.2 in August 2023. That is an increase of 17% 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 849 homes newly listed for sale in Montgomery County compared to 956 in August 2023, a decrease of 11%. There were 759 current contracts pending sale this August compared to 771 a year ago. The number of current contracts is 2% lower than last August. |
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Sale Price to List Price Ratio
In August, the average sale price in Montgomery County was 101.1% of the average list price, which is 0.7% lower than at this time last year. Days on Market
This month, the average number of days on market was 18, higher than the average last year, which was 17, an increase of 6%. | |||
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| *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. | |||
 Information 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. |
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