The Long & Foster Market Minute

Focus On: Montgomery County Housing Market July 2019

Units Sold
1,197
Active Inventory
2,617
Median Sale Price
$314,750
Days On Market
47
Down -1%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 31%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 1,197 sold this month in Montgomery County Real Estate versus 1,334 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 1% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 505 units or 16%. The total number of active inventory this July was 2,617 compared to 3,122 in July 2018. This month's total of 2,617 is lower than the previous month's total supply of available inventory of 2,827, a decrease of 7%.

Median Sale Price
Last July, the median sale price for Montgomery County Homes was $296,750. This July, the median sale price was $314,750, an increase of 6% or $18,000 compared to last year. The current median sold price is 3% 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.


New Listings
1,238
Current Contracts
1,040
Sold Vs. List Price
97.9%
Months of Supply
2.2
Down -7%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In July, there was 2.2 months of supply available in Montgomery County, compared to 2.6 in July 2018. That is a decrease of 15% 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 1,238 homes newly listed for sale in Montgomery County compared to 1,327 in July 2018, a decrease of 7%. There were 1,040 current contracts pending sale this July compared to 1,007 a year ago. The number of current contracts is 3% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Montgomery County was 97.9% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 47, higher than the average last year, which was 36, an increase of 31%.

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.