Real Estate Information Archive

Here's an update on residential sales in Montgomery County, MD, comparing sales during March 2010 to March 2009.

The total value of homes and condos sold in March was $311.3 million, which is an increase of 16.30 percent compared to last year.

The median sold price was down 5.01 percent, the total number of units sold was up 20.03 percent, and the days on the market that it took to sell a home was down 39.66 percent.

So, once again, we are seeing more homes selling more quickly than last year, but at a lower price.

For a real-time look at what homes are now on the market you can log onto www.MyRealtyTeam.com and click on the "Search Listings" tab.

The residential real estate market in Montgomery County, Maryland continues to favor buyers over sellers in most neighborhoods.

The audited year-end statistics for 2009 were just released by Metropolitan Regional Information Systems, Inc., and we thought we'd share this information with you.

In Montgomery County, $4.5 billion worth of homes sold in 2009, which is up 4.98 percent compared to 2008.

The median price of homes that sold was down 13.92 percent, the number of homes sold was up 21.78 percent, and the average time on the market for homes that sold was down 11.65 percent.

These numbers indicate that the law of supply and demand is alive and well.  As the prices in our area have declined, the number of homes and condos has increased... And the average time on the market for homes that do sell has dropped.

The outlook for 2010 remains good for buyers and cautiously optimistic for sellers.  The Washington area had an average of  5.3 months of for-sale inventory at the close of December -- down from 7.3 months a year ago.  In recent history, prices in our area have tended to rise when the ratio of inventory to sales is below 6 months.  So, the gap between supply and demand is closing.  Our expectation is that renewed demand will yield gradual gains in prices by late this year.

If you are interested in specific values in your own neighborhood, please call or email us anytime!

Here's an update on the real estate market in Montgomery County, Maryland.

During January, $232 million worth of houses and condos sold in Montgomery County, which is a 42.23 percent increase over sales in January of last year.

The median selling price of homes was up 2.27 percent, and the number of units sold increased by 48.84 percent.

Additionally, the average time that a home stayed on the market dropped by 37.50 percent.

So, the residential market is showing signs of recovery, based on this data.

By the way, these statistics are courtesy of Metropolitan Regional Information Systems, Inc., which collects data on home sales in metro DC.

If you want further details on our market, just let us know via email or telephone, and we'll be happy to respond.