Montgomery County, MD Real Estate Trend Indicator

By Roy Kelley

Industry Observer with Retired

July 10, 2010 03:45 AM

Montgomery County, MD Real Estate Trend Indicator

Prospective home buyers and sellers should be aware of the home sales trends in Montgomery County, Maryland. This report compares the statistics for the past month with the same month last year. There were 1,554 new listings taken in the month and the total of pending contracts was 1,096 for the month. The total dollar volume sold was up 11.82%. The number of housing units sold and settled was 1,232 from 1,099 last year. The average days on the market was 54 compared with 94 days last year. The average sales price was 94.78% of the average list price. The average sold price was $470,564 and the median sold price was $374,750 which was 0.57% below last year. The market is very active. It is a good time to be a buyer or a move up seller. Well priced properties are attracting multiple contracts. Buyers and sellers should note that in some areas the large number of short sale pre-foreclosures listings is distorting the market statistics. All buyers, including investors, that plan to use mortgage financing should obtain written pre-approval from their mortgage lender.

FHA loan limits for Montgomery County: $729,750. Limit for FHA reverse mortgages: $625,500.

Blooming for Maryland home buyers.

RealEstate Business Intelligence, LLC.
Real Estate Trend Indicator - Higher Price Segment Format

Montgomery County, MD
From: 06/01/2010 to 06/30/2010 Statistics generated on: 07/07/2010

	Residential Unit Sales Number of Bedrooms	Active Listings		Time on Market
Price Class	2 Or Less	3	4 or More	Condo Coop	Ground Rent	Residential	Condo Coop	Ground Rent	of Units Sold (No. of Units)
Under $100,000	1	0	0	32	0	8	147	1	1 -30 Days	726
$100,000 - 149,999	9	13	3	38	0	91	214	0	31-60 Days	232
$150,000 - 199,999	10	29	10	39	0	222	262	0	61 - 90 Days	86
$200,000 - 249,999	7	45	20	36	0	279	178	0	91-120 Days	43
$250,000 - 299,999	6	64	37	29	0	364	151	0	Over 120 Days	145
$300,000 - 349,999	5	55	47	20	0	367	95	0	Total	1232
$350,000 - 399,999	0	31	52	18	0	344	77	0
$400,000 - 449,999	2	23	48	6	0	247	34	0	Type of Financing of Units Sold (No. of Units)
$450,000 - 499,999	3	22	38	6	0	223	38	0
$500,000 - 599,999	1	28	73	8	0	348	26	0	Conventional	639
$600,000 - 699,999	2	23	71	6	0	311	6	0	FHA	336
$700,000 - 799,999	1	9	42	5	0	179	10	0	VA	50
$800,000 - 899,999	1	8	39	4	0	131	8	0	Assumption	22
$900,000 - 999,999	0	2	21	2	0	94	9	0	Cash	175
$1,000,000 - 2,499,999	0	2	72	5	0	432	22	0	Owner Finance	0
$2,500,000 - 4,999,999	0	0	3	0	0	85	5	0	All Other	10
$5,000,000 & Over	0	0	0	0	0	15	0	0	Unreported	0
Totals	48	354	576	254	0	3740	1282	1	Total	1232
Grand Totals	1232	5023

	2010	2009	% Change
Total Sold Dollar Volume:	$ 579,734,994	$ 518,461,715	11.82 %
Average Sold Price:	$ 470,564	$ 471,758	- 0.25 %
Median Sold Price:	$ 374,750	$ 376,900	- 0.57 %
Total Units Sold:	1,232	1,099	12.10 %
Average Days on Market:	54	94	- 42.55 %
Average List Price for Solds:	$ 496,486	$ 512,972	- 3.21 %
Avg Sale Price as a percentage of Avg List Price:	94.78 %	91.97 %

Total Number of NEW listings
taken for the month:	1554
Total Number of Properties
marked Contract for the month:	453
Total Number of Properties
marked Contingent for the month:	643
Total Number of NEW pendings
(CONTRACTS + CONTINGENTS):	1096