Real Estate Market Statistics for Montgomery County, Maryland
The June, 2012 Real Estate Market Statistics for Montgomery County, MD indicate a stronger market than during the same period in 2011. The total sold dollar volume was $531,223,006, up 4.16% from last year. There were 1,049 closed sales in the county, up slightly from last year.
Home sellers and prospective home buyers are keeping a close eye on home prices in Montgomery County. The median sold price was up 8.36% to $413,000 and the average sold price was up 3.47% to $506,409 with an average of 56 days on the market. The average sold price in June was 96.01% of the average list price.
Prospective home buyers in Montgomery County have the advantage of record low mortgage interest rates but are facing an inventory shortage which leads to multiple contract competition on many properties. One of the initial steps for smart home buyers is to obtain a pre-approval letter from their mortgage lender.
We are always ready to assist home buyers and will be happy to recommend mortgage lenders that provide outstanding service. Please contact us when you need current information on the local real estate market.
Hydrangea, Kentlands, Spring Flowers IMG_1615
Photograph by Roy Kelley using a Canon PowerShot G11 camera.
Roy and Dolores Kelley Photographs