We all have heard stories/reports on how the real estate market is doing. We read them in print; view them on the web, hear them on the radio, listen to them on podcasts, and watch them on the TV. Most of these reports are on either the National, State, or County levels. I believe real estate conditions are most relevant at the local level.
These other reports cover both a wide area (National, Region, State, or County) and several property types (detached, townhouses, unit-flats). Here is my view for townhouse market in the Mount Airy, Monrovia, New Market, and Ijamsville Md. zip codes, not including new construction.
As of May 28, 2023 there are four such homes currently on the market for sale, one (25 percent) of which were added just this last week. There are eight townhouses under some form of contract, one (12.5 percent) of which went under contract in the last week. In the last 30 days, 11 townhouses successfully completed the sales process, five of which (45 percent) completed the process just last week.
There are an additional two townhouses listed in the MLS with a status of coming soon, neither of them added to that count this week.
The median days on market for those with a status of active is 14 days. For those under the median days it is five days. Those that successfully completed the sales process in the last 30 days did so with the median days on market being four days.
Please reach out to me if you want more details on townhouses or detached homes in this area.