The Long & Foster Market Minute

Focus On: Montgomery County Housing Market February 2019

Units Sold
632
Active Inventory
1,709
Median Sale Price
$419,450
Days On Market
62
Down -2%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 632 sold this month in Montgomery County Real Estate versus 577 last month, an increase of 10%. This month's total units sold was lower than at this time last year, a decrease of 2% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 95 units or 5%. The total number of active inventory this February was 1,709 compared to 1,804 in February 2018. This month's total of 1,709 is lower than the previous month's total supply of available inventory of 1,895, a decrease of 10%.

Median Sale Price
Last February, the median sale price for Montgomery County Homes was $412,000. This February, the median sale price was $419,450, an increase of 2% or $7,450 compared to last year. The current median sold price is 5% higher 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
1,024
Current Contracts
890
Sold Vs. List Price
98.3%
Months of Supply
2.7
Down -17%
Vs. Year Ago
Down -4%
Vs. Year Ago
No Change
Vs. Year Ago
Down -4%
Vs. Year Ago

Months of Supply
In February, there was 2.7 months of supply available in Montgomery County, compared to 2.8 in February 2018. That is a decrease of 4% 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 1,024 homes newly listed for sale in Montgomery County compared to 1,237 in February 2018, a decrease of 17%. There were 890 current contracts pending sale this February compared to 931 a year ago. The number of current contracts is 4% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Montgomery County was 98.3% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 62, higher than the average last year, which was 55, an increase of 13%.

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.