The Long & Foster Market Minute

Focus On: Montgomery Village Housing Market December 2022

Zip Code(s): 20886
Units Sold
32
Active Inventory
40
Median Sale Price
$335,250
Days On Market
19
Down -27%
Vs. Year Ago
Up 67%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 32 sold this month in Montgomery Village Real Estate versus 40 last month, a decrease of 20%. This month's total units sold was lower than at this time last year, a decrease of 27% versus December 2021.

Active Inventory
Versus last year, the total number of homes available this month is higher by 16 units or 67%. The total number of active inventory this December was 40 compared to 24 in December 2021. This month's total of 40 is lower than the previous month's total supply of available inventory of 51, a decrease of 22%.

Median Sale Price
Last December, the median sale price for Montgomery Village Homes was $335,000. This December, the median sale price was $335,250, which is similar compared to a year ago. The current median sold price is 6% higher than in November.

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


New Listings
31
Current Contracts
36
Sold Vs. List Price
99.9%
Months of Supply
1.3
Down -22%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -0.5%
Vs. Year Ago
Up 127%
Vs. Year Ago

Months of Supply
In December, there was 1.3 months of supply available in Montgomery Village, compared to 0.5 in December 2021. That is an increase of 129% 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 31 homes newly listed for sale in Montgomery Village compared to 40 in December 2021, a decrease of 23%. There were 36 current contracts pending sale this December compared to 31 a year ago. The number of current contracts is 16% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Montgomery Village was 99.9% of the average list price, which is 0.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 19, which is similar compared to a year ago.

The Long & Foster Market Minute Montgomery Village are defined as properties listed in zip code/s 20886.
*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.