The Long & Foster Market Minute

Focus On: Montgomery County Housing Market April 2019

Units Sold
1,135
Active Inventory
2,285
Median Sale Price
$460,750
Days On Market
40
Down -4%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 25%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 1,135 sold this month in Montgomery County Real Estate versus 847 last month, an increase of 34%. This month's total units sold was lower than at this time last year, a decrease of 4% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 270 units or 11%. The total number of active inventory this April was 2,285 compared to 2,555 in April 2018. This month's total of 2,285 is higher than the previous month's total supply of available inventory of 2,113, an increase of 8%.

Median Sale Price
Last April, the median sale price for Montgomery County Homes was $445,000. This April, the median sale price was $460,750, an increase of 4% or $15,750 compared to last year. The current median sold price is 7% higher than in March.

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


New Listings
2,027
Current Contracts
1,428
Sold Vs. List Price
99.2%
Months of Supply
2.0
Up 2%
Vs. Year Ago
Up 6%
Vs. Year Ago
No Change
Vs. Year Ago
Down -7%
Vs. Year Ago

Months of Supply
In April, there was 2.0 months of supply available in Montgomery County, compared to 2.2 in April 2018. That is a decrease of 7% 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 2,027 homes newly listed for sale in Montgomery County compared to 1,978 in April 2018, an increase of 2%. There were 1,428 current contracts pending sale this April compared to 1,349 a year ago. The number of current contracts is 6% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Montgomery County was 99.2% 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 40, higher than the average last year, which was 32, an increase of 25%.

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.