| Total Sold Dollar Volume: | $ 224,791,913 | $ 304,344,372 | - 26.14 % |
| Average Sold Price: | $ 425,742 | $ 518,474 | - 17.89 % |
| Median Sold Price: | $ 330,000 | $ 410,000 | - 19.51 % |
| Total Units Sold: | 528 | 587 | - 10.05 % |
| Average Days on Market: | 106 | 99 | 7.07 % |
| Average List Price for Solds: | $ 469,945 | $ 560,974 | - 16.23 % |
| Avg Sale Price as a percentage of Avg List Price: |
90.59 % | 92.42 % |
The chart above compares home sales of this past November 2008 with last November 2007 in Montgomery County Maryland. I remember back in 2005 when somebody exclaimed the average price of homes in Montgomery County will reach one million dollars.
I don't think that is going to happen.
Montgomery County Maryland is experiencing the market correction just like everyone else. That alleged average of a million dollar sale price has actually dropped to $425K. Even more contradictory is the median sold price of $330K. Despite the wealth in this area, no county can average a million dollar sold price.
For more information on Maryland real estate, visit Maryland homes.
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