The Long & Foster Market Minute

Focus On: Montgomery County Housing Market September 2021

Units Sold
1,279
Active Inventory
1,528
Median Sale Price
$510,000
Days On Market
20
Down -4%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -23%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 1,279 sold this month in Montgomery County Real Estate versus 1,446 last month, a decrease of 12%. This month's total units sold was lower than at this time last year, a decrease of 4% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 87 units or 6%. The total number of active inventory this September was 1,528 compared to 1,441 in September 2020. This month's total of 1,528 is higher than the previous month's total supply of available inventory of 1,490, an increase of 3%.

Median Sale Price
Last September, the median sale price for Montgomery County Homes was $491,000. This September, the median sale price was $510,000, an increase of 4% or $19,000 compared to last year. The current median sold price is 8% lower than in August.

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


New Listings
1,688
Current Contracts
1,327
Sold Vs. List Price
100.8%
Months of Supply
1.2
Up 9%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Up 10%
Vs. Year Ago

Months of Supply
In September, there was 1.2 months of supply available in Montgomery County, compared to 1.1 in September 2020. That is an increase of 10% 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 1,688 homes newly listed for sale in Montgomery County compared to 1,554 in September 2020, an increase of 9%. There were 1,327 current contracts pending sale this September compared to 1,339 a year ago. The number of current contracts is 1% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Montgomery County was 100.8% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 26, a decrease of 23%.

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.