Montgomery County, Maryland Home Sales Update
Poolesville, Brookeville, Cabin John Post Solid Increases in Sales, Poolesville and Sandy Spring see largest price increases
Montgomery County home sales numbers for April are in. Looking at the ZIP codes in Montgomery County, we see strong increases in home sales in Brookeville, Cabin John, and Poolesville – all these areas at least doubled the number of homes sold from April of last year.
Brookeville’s 10 sales in April were a 233% increase over last year, making it most improved in terms of number of homes sold.
In terms of prices, Sandy Spring is the clear leader in price improvement, with a 118% increase in prices over last year. However, that ZIP code is down nearly 23% from last month. There’s a similar trend in Poolesville, where home prices are up an impressive 62% from last year, but down nearly 17% from last month. In ZIP codes with fewer home sales, sometimes a few sales can dramatically skew the numbers.
For Montgomery County as a whole, here’s the data look.
The median sold price is up about 10 percent from last year, and up 7% from last month, and the average time on market for homes is down to 50 days. The price improvements are greater than for neighboring Howard County.
We are seeing great activity across the county, with multiple offers on the best homes in many price ranges, especially those listed under $500,000. We expect to see price improvements in that price range, unless supply can keep up with demand.
Stay tuned!
Laura Kittleman is the owner of The Kittleman Group of Keller Williams Select Realtors, based in Ellicott City, MD. She can be reached at 301-785-5889 or laurak@kittlemangroup.com
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