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| JULY 2024 | |||
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| Units Sold 972 |
Active Inventory 1,157 |
Median Sale Price $636,508 |
Days On Market 18 |
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| Up 9% Vs. Year Ago |
Up 13% Vs. Year Ago |
Up 6% Vs. Year Ago |
Up 6% Vs. Year Ago |
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Units Sold
The number of units sold remained stable in July, with 972 sold this month in Montgomery County Real Estate. This month's total units sold was higher than at this time last year, an increase of 3% versus July 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 130 units or 13%. The total number of active inventory this July was 1,157 compared to 1,027 in July 2023. This month's total of 1,157 is lower than the previous month's total supply of available inventory of 1,334, a decrease of 13%. |
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Median Sale Price
Last July, the median sale price for Montgomery County Homes was $603,000. This July, the median sale price was $636,508, an increase of 6% or $33,508 compared to last year. The current median sold price is 2% lower than in June. 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 940 |
Current Contracts 878 |
Sold Vs. List Price 100.9% |
Months of Supply 1.2 |
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| Down -3% Vs. Year Ago |
Up 6% Vs. Year Ago |
No Change Vs. Year Ago |
No Change Vs. Year Ago |
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Months of Supply
In July, there was 1.2 months of supply available in Montgomery County. The amount of supply is similar compared to 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 940 homes newly listed for sale in Montgomery County compared to 968 in July 2023, a decrease of 3%. There were 878 current contracts pending sale this July compared to 825 a year ago. The number of current contracts is 6% higher than last July. |
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Sale Price to List Price Ratio
In July, the average sale price in Montgomery County was 100.9% 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 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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