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Montgomery County, Maryland Real Estate Market Statistics, Oct., 2012

By
Industry Observer with Retired

Montgomery County, Maryland Real Estate Market Statistics, October, 2012

 

The residential real estate market is always a very local condition.  Prospective home buyers and home sellers should ask a local real estate professional to provide the current market data that will allow informed decisions.  The market statistics on Montgomery County, Maryland are based on transactions in the regional multiple listing service (MRIS).  The statistics are then compiled by RBI - RealEstate Business Intelligence for use by real estate professionals and their clients.

During October, the total sold dollar volume in Montgomery County was $322,276,695, up 23.61% from the same month last year.  The total sold dollar volume represented 726 transactions, up 14.51%.  The median sold price in October was $355,550, up 8.65% and the average sold price was $443,907, up 7.95%.  59 days was the average time on the market, down 30.59% from last year.  The average sold to original price ratio was 95.61%.

The inventory of available homes is lower than normal and many home buyers face multiple contract competition.  It pays to be well prepared for the market conditions.  All prospective purchasers that plan to use mortgage financing should have a pre-approval letter from their mortgage lender.  Prospects without verified financial ability will not be taken seriously by home sellers and their listing agents. 

We are always willing to recommend loan officers, home inspectors and settlement companies that have a good service reputation.

Chrysanthemum, Brookside Gardens, Chrysanthemum Society Show IMG_7959

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Posted by

Roy Kelley, Retired, Former Associate Broker, RE/MAX Realty Group

Gaithersburg, Maryland  

Show All Comments
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Roy, we are seeing improvement here in Southwest Florida as the lower priced inventory has virtually disappeared. Good sign of an upward trend since we are a second home destination and not necessarily business driven. Enjoy your day!

Nov 23, 2012 07:40 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Those are some very good numbers. Hopefully your local media is sharing the information with the community as more folks need to know the information.

Nov 23, 2012 07:49 PM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Roy: All solid indicators the Montgomery County MD real estate market continues to rebound.  Good information for area consumers.

Nov 23, 2012 08:17 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
Thanks for sharing information about your real estate market. Have a good weekend.
Nov 23, 2012 08:41 PM
Roy Kelley
Retired - Gaithersburg, MD

Many retirees in Montgomery County previously deferred sales when prices were lower.  As the market firms up, retirees will now be looking for homes in the south and will be preparing their Maryland homes for sale.

Chrysanthemum Festival, Longwood Gardens IMG_0658

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs


Nov 23, 2012 08:47 PM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Good morning Roy,

Wonderful local market information for Montgomery County - prices are up, days on market are down...that's a winning combination for the housing market!

Nov 23, 2012 08:50 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

The Montgomery County real estate market has shown some very strong improvements from last year.  Thanks for the report.

Nov 23, 2012 09:18 PM
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Roy ....Those are great stats! Let's hope that The Vols stats are that good today so they can end the season with a win!

Have a great day!

Nov 23, 2012 09:24 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Roy, Montgomery County sure is enjoying a great real estate market, and for more information - call Roy Kelley for the expert on market conditions!

Nov 23, 2012 10:47 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Roy, Market reports from all over the country are showing great improvements. Have a great day.

Nov 23, 2012 11:22 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Nice information for Montgomery County and the Real Estate stats Roy. Enjoy the weekend!

Nov 23, 2012 11:45 PM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

Good report Roy. We're also experiencing a shortage of inventory. However, the news is sure better than last year. Let's hope the recovery just keeps getting stronger. Have a great Saturday.

Nov 24, 2012 12:23 AM
Clint Mckie
Desert Sun Home, commercial Inspections - Carlsbad, NM
Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Roy,

What a nice report and very good news for the sellers in the market. I like the numbers and the sale price at about 95% is a very good thing as well.

Have a great day in Gaithersburg, Maryland.

Best, Clint McKie

Nov 24, 2012 12:58 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Very nice market report Roy. I love the way you add detail to your numbers. Have a great Saturday

Nov 24, 2012 01:37 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Roy,

When it comes to Real Estate, you're the voice of authority. I respect you. Everyone should respect and listen to you. You always speak the truth and share what's important to know.

Nov 24, 2012 03:25 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Roy, Looks like the year end's great for Montgomery County real estate.

Nov 24, 2012 04:41 AM
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

Those are great numbers. The days on market may be down but 59 days is still pretty awesome!

Nov 24, 2012 06:00 AM
Yolanda Cordova-Gilbert
Richmond, TX

Roy,

   Great mrket report and you are right many people were waiting for the market to firm up before putting them up for sale! I hope you are having a great Thanksgiving weekend!

Nov 24, 2012 07:46 AM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Hi Roy,

Good market report and Montgiomery County taking only 59 days to sell a home is an excellent statistic and no wonder the supply of homes is getting smaller.

Nov 24, 2012 07:52 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks so much for your comments.  It is always good to hear from you.  Dolores and I have been busy with Thanksgiving holiday activities.

Pink Chrysanthemum, Longwood Gardens IMG_0660

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

Nov 24, 2012 08:58 AM
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