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| Focus On: Montgomery County Housing Market | October 2023 | ||
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| Units Sold 647 |
Active Inventory 948 |
Median Sale Price $424,900 |
Days On Market 15 |
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| Down -16% Vs. Year Ago |
Down -19% Vs. Year Ago |
Up 6% Vs. Year Ago |
Down -32% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in October, with 647 sold this month in Montgomery County Real Estate versus 704 last month, a decrease of 8%. This month's total units sold was lower than at this time last year, a decrease of 16% versus October 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 224 units or 19%. The total number of active inventory this October was 948 compared to 1,172 in October 2022. This month's total of 948 is lower than the previous month's total supply of available inventory of 954, a decrease of 1%. |
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Median Sale Price
Last October, the median sale price for Montgomery County Homes was $399,745. This October, the median sale price was approximately the same at $424,900. The current median sold price is 6% higher than in October 2022. 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 845 |
Current Contracts 697 |
Sold Vs. List Price 101.5% |
Months of Supply 1.5 |
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| Up 1% Vs. Year Ago |
Down -3% Vs. Year Ago |
Up 0.9% Vs. Year Ago |
No Change Vs. Year Ago |
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Months of Supply
In October, there was 1.5 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 845 homes newly listed for sale in Montgomery County compared to 834 in October 2022, an increase of 1%. There were 697 current contracts pending sale this October compared to 720 a year ago. The number of current contracts is 3% lower than last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Montgomery County was 101.5% of the average list price, which is 0.9% higher than at this time last year. Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 22, a decrease of 32%. | |||
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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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