The Long & Foster Market Minute

Focus On: Montgomery County Housing Market September 2019

Units Sold
915
Active Inventory
2,504
Median Sale Price
$306,000
Days On Market
42
Up 3%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 5%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 915 sold this month in Montgomery County Real Estate versus 1,080 last month, a decrease of 15%. This month's total units sold was higher than at this time last year, an increase of 3% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 591 units or 19%. The total number of active inventory this September was 2,504 compared to 3,095 in September 2018. This month's total of 2,504 is lower than the previous month's total supply of available inventory of 2,631, a decrease of 5%.

Median Sale Price
Last September, the median sale price for Montgomery County Homes was $290,000. This September, the median sale price was $306,000, an increase of 6% or $16,000 compared to last year. The current median sold price is 4% lower than in August.

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


New Listings
1,271
Current Contracts
887
Sold Vs. List Price
98.0%
Months of Supply
2.7
Down -2%
Vs. Year Ago
Up 8%
Vs. Year Ago
No Change
Vs. Year Ago
Down -21%
Vs. Year Ago

Months of Supply
In September, there was 2.7 months of supply available in Montgomery County, compared to 3.5 in September 2018. That is a decrease of 21% 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 1,271 homes newly listed for sale in Montgomery County compared to 1,298 in September 2018, a decrease of 2%. There were 887 current contracts pending sale this September compared to 824 a year ago. The number of current contracts is 8% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Montgomery County was 98.0% 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 42, higher than the average last year, which was 40, an increase of 5%.

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.