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.