The Long & Foster Market Minute

Focus On: Montgomery County Housing Market August 2021

Units Sold
1,421
Active Inventory
1,380
Median Sale Price
$555,000
Days On Market
17
Up 7%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 1,421 sold this month in Montgomery County Real Estate versus 1,549 last month, a decrease of 8%. This month's total units sold was higher than at this time last year, an increase of 7% versus August 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 75 units or 5%. The total number of active inventory this August was 1,380 compared to 1,455 in August 2020. This month's total of 1,380 is lower than the previous month's total supply of available inventory of 1,591, a decrease of 13%.

Median Sale Price
Last August, the median sale price for Montgomery County Homes was $481,612. This August, the median sale price was $555,000, an increase of 15% or $73,388 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
1,513
Current Contracts
1,420
Sold Vs. List Price
101.4%
Months of Supply
1.0
Up 3%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Down -11%
Vs. Year Ago

Months of Supply
In August, there was 1.0 months of supply available in Montgomery County, compared to 1.1 in August 2020. That is a decrease of 11% 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 1,513 homes newly listed for sale in Montgomery County compared to 1,466 in August 2020, an increase of 3%. There were 1,420 current contracts pending sale this August compared to 1,325 a year ago. The number of current contracts is 7% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Montgomery County was 101.4% of the average list price, which is 1.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 17, lower than the average last year, which was 25, a decrease of 32%.

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.