The Long & Foster Market Minute

Focus On: Montgomery County Housing Market April 2019

Units Sold
871
Active Inventory
2,345
Median Sale Price
$295,000
Days On Market
62
Down -1%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 15%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 871 sold this month in Montgomery County Real Estate versus 756 last month, an increase of 15%. This month's total units sold was lower than at this time last year, a decrease of 1% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 537 units or 19%. The total number of active inventory this April was 2,345 compared to 2,882 in April 2018. This month's total of 2,345 is lower than the previous month's total supply of available inventory of 2,380, a decrease of 1%.

Median Sale Price
Last April, the median sale price for Montgomery County Homes was $278,580. This April, the median sale price was $295,000, an increase of 6% or $16,420 compared to last year. The current median sold price is 5% 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
1,704
Current Contracts
1,398
Sold Vs. List Price
97.7%
Months of Supply
2.7
No Change
Vs. Year Ago
Up 18%
Vs. Year Ago
No Change
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In April, there was 2.7 months of supply available in Montgomery County, compared to 3.3 in April 2018. That is a decrease of 18% 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 1,704 homes newly listed for sale in Montgomery County, which is similar to the amount in April 2018. There were 1,398 current contracts pending sale this April compared to 1,189 a year ago. The number of current contracts is 18% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Montgomery County was 97.7% 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 62, higher than the average last year, which was 54, an increase of 15%.

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.