The year-end statistics for residential sales in Montgomery County, Maryland were released yesterday.  These numbers are compiled by MRIS, Inc., based on settled sales.

The median sold price of houses and condos in 2007 was $444,000, which is a 1.14 percent increase from 2006.

The number of units sold dropped 23.39 percent, and the average days on the market was 84 in 2007 versus 57 in 2006. 

So... it is generally still a buyers market in our area, although there are micro-markets where homes are selling very quickly for top dollar.  I am eager to see how the increase in FHA, FNMA, and Freddie Mac loan limits will affect our market, as we tend to see many jumbo loans.

 

 

2 Comments on Montgomery County, MD update

Ibi, there are strong comparisons between the Maryland-Virginia-DC market and ours. The average sale price for a condo is not far off. Great stats. Keep blogging.

02/15/2008 07:11 AM by Andrew J. Lenza (ABR*GRI*MBA) Monmouth County NJ Real Estate Broker (Andrew J. Lenza Realty)


And just think, an agent told me in 1997 that my 3br, 2ba condo in New Mark Commons of Rockville would never be worth more than $200,000.It was nice to see some positive news from the last state I called home. Thanks for posting. 

Kimble Bosworth, bozTEAM of Village Real EState 

02/15/2008 07:19 AM by Kimble Bosworth (Village Real Estate Services)


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Real Estate Agent: Ibi Sofillas (MyRealtyTeam Real Estate, LLC)
Ibi Sofillas
Clarksburg, MD
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MyRealtyTeam Real Estate, LLC

Office Phone: (301) 972-5031
Cell Phone: (301) 466-3256
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A hometown guide to Clarksburg, Maryland


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