ROCKVILLE MD CONDO Market Prices - JUNE 2016
Real estate market data for the Rockville Maryland Condo Market is provided by Lise Howe, Keller Williams Capital Properties
If you are interested in finding a condo for sale in Rockville MD, just click here to see all the condo homes for sale.
ROCKVILLE CONDO MEDIAN PRICES
In Rockville, MD, the median sold price for condos for June was $314,000, representing a slight decrease of .3% compared to last month's $315,000 and an increase of 13.2% from May 2015's $277,500.
Year to date the median price has been $315,000, exactly matching the five year average of $315,000.
If you are interested in finding a condo for sale in Rockville MD, just click here to see all the condo homes for sale. The stable sale prices and historically low interest rates make this a great time for buyers to move to their dream home!
ROCKVILLE CONDO INVENTORY LEVELS
In June 2016 there were 77 new condo listings, matching April's 77 new listings and a 5.5% increase from May's 73 new listings. (In June 2015 there were 75 new listings.) While the June 2016 number of 77 new condo listings is the same as the April new condo listing numbers, it is well above the the 5 year average of 65 new listings in June.
In June there were 413 active condo listings year to date on the market versus 404 at the same time in 2015.
ROCKVILLE CONDO PENDING AND CLOSED SALES
In June there were 66 pending sales and 50 closed condo sales. This contrasts with the
2015 numbers of 58 new pending sales and 62 closed condo sales at the same point in time. The June pending sales represented a increase of 11.9 over May and 13.8% increase from June 2015. 50 closed sales is an 15.3% decrease over May's numbers and an 19.4% decrease over June 2015. The five year average of closed sales in June is 51.
AVERAGE DAYS ON MARKET
In June the average days on market was 46 days versus the previous month of 35 days and the five year average of 46 days.
If you are interested in finding a condo for sale in Rockville MD, just click here to see all the condos for sale in Rockville MD
MARKET ACTIVITY SUMMARY JUNE 2016-
ROCKVILLE CONDOS
In Rockville, MD, the median sold price for Condo & Coop properties for June was $314,000, representing a decrease of 0.3% compared to last month and an increase of 13.2% from Jun 2015.
The average days on market for units sold in June was 46 days, the same as the 5-year June average of 46 days. There was an 11.9% month over month increase in new contract activity with 66 New Pendings; a 5.1% MoM increase in All Pendings (new contracts + contracts carried over from May) to 83; and a 6.3% increase in supply to 119 active units.
This activity resulted in a Contract Ratio of 0.70 pendings per active listing, down from 0.71 in May and an increase from 0.53 in June 2015. The Contract Ratio is 2% lower than the 5-year June average of 0.71.
A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.
This is a great time to sell your home in Rockville with the market moving in the seller's favor after years of stable prices! To find out the value of your condo in Rockville, just click here. We have lots of buyers looking for homes in the Rockville area - and very likely for a home just like yours!
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