Housing Market, Montgomery County, Maryland
There 2,550 active listings of homes for sale in Montgomery County, Maryland. 91 (3.57%) of the available properties are lender owned foreclosures. 207 (8.12%) of the current listings are short sale pre-foreclosures. Short sale transactions require the approval of the secured mortgage lenders since the anticipated proceeds of a sale will not fully satisfy the outstanding mortgage obligations.
During September, 2013, the total sold dollar volume of residential properties in Montgomery County, MD, was $407,688,711, up 18.79% from the same month last year. There were 871 closed sales, up 16.91% at a median sold price of $379,000, up 2.43%. The average sold price in September was $468,070, up 1.61% with an average of 44 days on the market. The average sold to original list price ratio was 97.18%.
This is an active market and some home buyers may be faced with multiple contract competition. Those that plan to use mortgage financing should seek pre-approval from their lender. Home sellers and their listing agents will ask for verification of the ability to obtain the needed financing.
Please contact us for local market conditions and information on available properties in neighborhoods of interest.
Kentlands, Flowers IMG_1578
Roy and Dolores Kelley Photographs
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