Montgomery County, MD Home Sales Statistics | Montgomery County, MD Housing Market Data

Montgomery County, MD Home Sales Statistics – Montgomery County, MD Housing Market Data – Maryland Real Estate | Next Day Home Sales®: Realtors®

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March 2016 – Next Day Home Sales’ real estate business model made it to the Personal Video Submission round for ABC’s Shark Tank.

Next Day Home Sales is proud that our innovative real estate company in Maryland was recognized by ABC’s Shark Tank.

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Next Day Home Sales is an innovative full-service residential real estate company in Montgomery County, MD that specializes in providing web-based real estate brokerage services to home sellers. Our mission is to redefine real estate in the seller’s favor, with the philosophy of, “putting our seller’s best interests above our profits, the way homes should be sold“. Unlike traditional brokers, Next Day Home Sales generally does not engage in dual agency and specializes in representing sellers to ensure absolute fidelity to its seller clients.

The “traditional” days when selling your property meant signing a listing agreement with a dual agency clause allowing your listing brokerage to quickly find any buyer for your home whether it’s the best offer for you or not and conveniently collect both ends of the commission are over.

Cooperation not competition with traditional brokers is the cornerstone of Next Day Home Sales’ business model. To maximize seller profits year-round, Next Day Home Sales gives each seller the option of lower listing commissions and higher buyer agents’ commissions to sell their home faster for more money in any real estate market.

Next Day Home Sales believes that “When buyer agents’ compete, sellers win.” Higher MLS buyer agents’ commissions help motivate buyer agents (especially in slower market conditions) to aggressively market a Next Day Home Sales seller’s home before other comparable properties in the local market.

Unlike traditional brokers, with Next Day Home Sales’ flexible listing structure, sellers can pay just 3.0% of their home’s sale price and get full-service when they list with Next Day Home Sales, instead of the traditional 5% or 6%, making it easier for sellers to get the best price for their home and maximize their profits.

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The Next Day Home Sales® Market Conditions Report

January 2017 Montgomery County Market Trends Report

Overview

January’s tally of 704 closed sales topped last year’s level by 9.0 percent and was the highest January level since 2007. The 848 new pending sales marked an 11.1 percent jump from last January and beat the five-year January average by 4.3 percent, or 35 contracts. There were 1,010 new listings added in January, 15.6 percent more than last January’s mark. The 1,749 active listings dip far below last January’s active listing total 2,100 (-16.7%). The 1,749 active listings heading into February represent 1.7 months of supply given the average sales pace over the last twelve months, favoring the seller 21.3 percent more than the 2.1 months of supply last January. Half of the homes sold in January were on the market 42 days or less, 13 days quicker than the median DOM in January 2016. The average DOM was 14.3 percent lower at 66 days. The $390,000 median in January was 8.3 percent higher than last January’s median of $360,000. The average sales price in January was $482,017, a 6.8 percent increase over the January 2016 average of $451,298. Closed sales rose in all segments of the market.

Key Trends

  • Contract activity. The 848 new pending sales marked an 11.1 percent jump from last January and beat the five-year January average by 4.3 percent, or 35 contracts.
  • Closed sales. January’s tally of 704 closed sales topped last year’s level by 9.0 percent and was the highest January level since 2007.
  • Listing activity. There were 1,010 new listings added in January, 15.6 percent more than last January’s mark. The 1,749 active listings dip far below last January’s active listing total 2,100 (-16.7%).
  • Prices. The $390,000 median in January was 8.3 percent higher than last January’s median of $360,000. The average sales price in January was $482,017, a 6.8 percent increase over the January 2016 average of $451,298.
  • Price per Square Foot. The average price per square foot for homes sold in January went up 2.6 percent year-over-year, from $265 to $272.
  • Days-on-Market (DOM). Half of the homes sold in January were on the market 42 days or less, 13 days quicker than the median DOM in January 2016. The average DOM was 14.3 percent lower at 66 days.
  • Sales Price to Original List Price Ratios (SP to OLP). Sellers received 96.1 percent of original list price on average, up a little more than a point from last January. Half of January sellers received at least 97.2 percent of their original asking price, 1 point more than in January 2016.
  • Months of Supply. The 1,749 active listings heading into February represent 1.7 months of supply given the average sales pace over the last twelve months, favoring the seller 21.3 percent more than the 2.1 months of supply last January.

Analysis by Housing Segment
Single-Family Detached

  • There was a 16.6 percent year-over-year increase in January purchase activity with 450 new contracts for detached properties, and a 7.9 percent increase in closed sales. The 381 sales exceeded the five-year January average by 15.2 percent.
  • There were 534 new listings added in January, an increase (+17.1%) over the number of detached homes listed last January. At January’s end, there were 17.9 percent fewer listings available than last year.
  • Based on the average sales pace over the last twelve months, the 1,010 active listings represent 1.7 months of supply, down from the 2.2 months of supply available last year at this time.
  • The average days-on-market (DOM) for detached properties sold in January was 70 days, down from last year’s level of 85. Half the detached homes sold were on the market for 45 days or less, a much quicker rate than last January’s median DOM of 55.
  • The average price per square foot for detached homes was $298, slightly less than in January 2016 ($299).
  • The median sales price for detached properties in January was $499,900, marking an increase from last January’s $468,000 level. January’s average sales price was $606,407, a 4.6 percent increase over last January’s average of $579,800.

Single-Family Attached (Townhouses)

  • January sales dipped to 178 new pending sales for townhouses, a 9.2 percent loss from last January. There were 154 townhouse sales completed in January, 14.1 percent more (+19) than last year.
  • Townhouse sellers entered the market at an 18.4 percent higher clip than last January, and the 225 new listings added beat the five-year January average by 24 listings. At month’s end, there are 93 fewer townhouse listings than last year.
  • The 278 active listings represent only 1.2 months of supply based on the average sales pace of the last twelve months, trending further in the seller’s favor from the 1.7 months of supply at this point last year.
  • The average days-on-market (DOM) for townhouses sold in January was 53 days, a twelve-day increase from last year. Half of these townhouses were on the market for 36 days or less, a significant increase (12 days) versus last January’s median DOM of 48.
  • The average price per square foot for townhouses sold in January was $237, a slight increase from last January when townhouses had an average price per square foot of $226.
  • The median sales price for townhouses in January was $307,250, an increase of $11,250, or 3.8 percent, versus last January. The average sales price in January was $349,194, 4.3 percent higher than the $334,869 average last January.©


Condos & Co-ops

  • There was a 21.5 percent year-over-year jump in January purchase activity with 220 new contracts for condos and a 7.0 percent increase in closed sales.
  • The 251 new listings added in January increased from last year’s mark by 10.1 percent and the five-year January average by 3.3 percent. At month’s end, active condo inventory is now 7.8 percent lower than the same point last year.
  • The 460 active listings headed into February represent 1.9 months of supply based on the average sales pace over the last twelve months, down slightly from the 2.3 months of supply available at this point last year.
  • The average days-on-market (DOM) for condos sold in January was 68 days, slightly less than the 72 in January 2016. Half of these condos were on the market for 47 days or more, a quicker pace than last January’s median DOM of 56.
  • The average price per square foot for condos sold in January was $247, higher than last January’s mark of $222.
  • The median sales price for condos in January was $227,000, representing 12.9 percent jump compared to last year’s median of $201,000. The average sales price in January was $322,620, an 22.4 percent jump compared to the $263,684 from January 2016.

Source: The Greater Capital Area Association of REALTORS® (GCAAR)


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September 2016 Montgomery County, MD Market Trends


Overview

The 917 closed sales in Montgomery County in September decreased 9.4 percent from last year’s sales tally and exceeded the five-year September average by 3.5 percent. New contracts were up 2.1 percent compared to September 2015. The 2,915 active listings at month’s end fell far below last September’s active listing total (3,518). With only 2.8 months of supply given the average sales pace over the last twelve months, sales are trending even more in the seller’s favor than last September. Half of the homes sold were on the market 28 days or less, a seven-day improvement from September 2015. The $392,000 median in September was 0.8 percent lower than last September’s median of $395,000. The average sales price in September was $478,197, a 5.2 percent decrease over the September 2015 average of $504,686. Closed sales fell in the detached home and condo segments while rising slightly in the townhouse segment.

Key Trends


Contract activity. The 1,144 new pending sales marked a 2.1 percent change from last September and beat the five-year September average by 10.4 percent, or 108 contracts.

Closed sales. September’s tally of 917 closed sales fell below last year’s level by 9.4 percent and exceeded the five-year September average by 3.5 percent.

Listing activity. There were 1,646 new listings added in September, 36 less than last September’s mark. The 2,915 active listings at month’s end fall far below last September’s active listing total (3,518).

Prices. The $392,000 median in September was 0.8 percent lower than last September’s median of $395,000. The average sales price in September was $478,197, a 5.2 percent decrease over the September 2015 average of $504,686.

Price per Square Foot. The average price per square foot for homes sold in September went down 0.7 percent year-over-year, from $280 to $278.

Days-on-Market (DOM). Half of the homes sold in September were on the market 28 days or less, a week less than the median DOM in September 2015 (35 days). The average DOM was down a little more than a week at 50 days compared to 58 days in 2015.

Sales Price to Original List Price Ratios (SP to OLP). Sellers received 97 percent of original list price on average, up a little from last September (96.4 percent). Half of September sellers received at least 97.7 percent of their original asking price, nearly the same ratio as in September 2015 (97.3 percent).

Months of Supply. The 2,915 active listings heading into October represent 2.8 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 3.6 months of supply last September.

Analysis by Housing Segment
Single-Family Detached


There was a 1.5 percent year-over-year increase in September purchase activity with 611 new contracts for detached properties, but a 16.6 percent decrease in closed sales. The 476 sales fell below the five-year September average by 1.6 percent.

There were 936 new listings added in September, a decrease (+5.3%) from the number of detached homes listed last September. At month’s end, there were 17.1 percent fewer listings available than last year.

Based on the average sales pace over the last twelve months, the 1,771 active listings represent 3.1 months of supply, down from the 4.0 months of supply available last year at this time.

The average days-on-market (DOM) for detached properties sold in September was 56 days, down from last year’s level of 59. Half the detached homes sold were on the market for 33 days or less, 2 days fewer than last September’s median DOM (35).

The average price per square foot for detached homes was $314, slightly less than in September 2015 ($318).

The median sales price for detached properties in September was $520,000, marking a slight increase (0.8 percent) from last September’s $515,900 level. September’s average sales price was $617,960, an annual decrease of 5.0 percent.

Single-Family Attached (Townhouses)


September sales bounced back with 269 new pending sales for townhouses, an increase of 7.2 percent. There were 215 townhouse sales completed in September, 2 less than last year.

Townhouse sellers entered the market at a 3.0 percent lower clip than last September, and the 325 new listings added topped the five-year September average by 29 listings. At month’s end, there are 205 fewer townhouse listings than last year.

The 471 active listings represent 2.1 months of supply based on the average sales pace of the last twelve months, trending further in the seller’s favor from the 3.2 months of supply at this point last year.

The average days-on-market (DOM) for townhouses sold in September was 41 days, a 13 day increase from last year. Half of these townhouses were on the market for 24 days or less, a significant decrease (8 days) versus last September’s median DOM of 32.

The average price per square foot for townhouses sold in September was $234, a slight decrease from last September when townhouses had an average price per square foot of $238.

The median sales price for townhouses in September was $314,000, a decrease of $6,000, or 1.9 percent, versus last September. The average sales price in September was $365,915, 4.3 percent lower than the $382,376 average last September.

Condos & Co-ops


There was a 1.5 percent year-over-year decrease in September purchase activity with 264 new contracts for condos and a 1.3 percent decrease in closed condo sales.

The 384 new listings added in September increased from last year’s mark by 7.0 percent and the five-year September average by 20.2 percent. At month’s end, active condo inventory is now 4.0 percent lower than the same point last year.

The 672 active listings headed into September represent 2.9 months of supply based on the average sales pace over the last twelve months, down slightly from the 3.3 months of supply available at this point last year.

The average days-on-market (DOM) for condos sold in September was 47 days, an improvement from the 58 DOM in September 2015. Half of these condos were on the market for 28 days or more, much quicker than the 41 median DOM in September 2015.

The average price per square foot for condos sold in September was $245, higher than the September 2015 mark of $224.

The median sales price for condos in September was $229,000, representing an increase compared to last year’s $215,000. The average sales price in September was $291,897, a 14.9 percent bump from the $253,955 average in September 2015.

Source: The Greater Capital Area Association of REALTORS® (GCAAR)


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March 2016 Montgomery County, MD Market Trends

The Next Day Home Sales® Market Conditions Report
Montgomery County, MD Housing Market

Overview

The 841 closed sales in Montgomery County in March remained nearly flat compared to last year’s sales, but exceeded the five-year March average by 6.7 percent. New contracts were up 10.9 percent compared to March 2015. The 2,519 active listings at month’s end were nearly the same as last year’s total, despite beginning the month down 7.6 percent. This is largely due to a 19.3 percent spike in new listings compared to March 2015. With only 2.5 months of supply given the average sales pace over the last twelve months, sales are still trending in the seller’s favor at the same pace as last March. Half of the homes sold were on the market 41 days or less, slightly more than in March 2015. Compared to last March, prices dipped 3.1 percent as the $385,000 median was lower than last March’s $397,450 mark. Closed sales dipped in the detached home segment while rising in the townhouse and condo/co-op segments.

Key Trends

Contract activity. The 1,453 new pending sales marked a 10.9 percent change from last March and beat the five-year March average by 14.1 percent, or 179 contracts.

Closed sales. March’s tally of 841 closed sales topped last year’s level by less than one percent and exceeded the five-year March average by 6.7 percent.

Listing activity. There were 2,065 new listings added in March, 334 more than last March’s mark. The 2,519 active listings at month’s end remain flat with last March’s active listing total.

Prices. The $385,000 median in March was 3.1 percent lower than last March’s median of $397,450. The average sales price in March was $473,902, a 5.1 percent decrease over the March 2015 average of $499,348.

Price per Square Foot. The average price per square foot for homes sold in March went up .8 percent year-over-year, from $270 to $272.

Days-on-Market (DOM). Half of the homes sold in March were on the market 41 days or less, slightly up from the median DOM in March 2015. The average DOM was slightly lower at 74 days.

Sales Price to Original List Price Ratios (SP to OLP). Sellers received 96.4 percent of original list price on average, virtually the same as last March. Half of March sellers received at least 97.8 percent of their original asking price, exactly the same ratio as in March 2015.

Months of Supply. The 2,519 active listings heading into March represent 2.53 months of supply given the average sales pace over the last twelve months, favoring the seller at about the same pace compared to the 2.8 months of supply last March.

Analysis by Housing Segment

Single-Family Detached

There was a 14.1 percent year-over-year increase in March purchase activity with 784 new contracts for detached properties, and a 2.4 percent decrease in closed sales. The 447 sales exceeded the five-year March average by 5.7 percent.

There were 1,213 new listings added in March, a significant increase (+19.3%) from the number of detached homes listed last March. At March’s end, there were 1.6 percent more listings available than last year.

Based on the average sales pace over the last twelve months, the 1,534 active listings represent 2.7 months of supply, down from the 3.0 months of supply available last year at this time.

The average days-on-market (DOM) for detached properties sold in March was 83 days, down from last year’s level of 84. Half the detached homes sold were on the market for 46 days or less, 10 days more than last March’s median DOM.

The average price per square foot for detached homes was $310, about the same as in March 2015 ($311).

The median sales price for detached properties in March was $513,000, marking a slight decrease from last March’s $514,950 level. March’s average sales price was $618,811, an annual decrease of 5.6 percent.

Single-Family Attached (Townhouses)

March sales bounced back with 330 new pending sales for townhouses 5.1 percent gain from last March. There were 186 townhouse sales completed in March, 10 more than last year.

Townhouse sellers entered the market at a 16.6 percent higher clip than last March, and the 422 new listings added topped the five-year March average by 102 listings. At month’s end, there are 38 fewer townhouse listings than last year, marking an 8.6 percent decrease.

The 403 active listings represent 1.8 months of supply based on the average sales pace of the last twelve months, trending further in the seller’s favor from the 2.2 months of supply at this point last year.

The average days-on-market (DOM) for townhouses sold in March was 66 days, a five-day increase from last year. Half of these townhouses were on the market for 36 days or less, two days higher than last March’s median DOM of 34.

The average price per square foot for townhouses sold in March was $234, a slight increase from last March when townhouses had an average price per square foot of $228.

The median sales price for townhouses in March was $311,500, a decrease of $9,740, or 3.0 percent, versus last March. The average sales price in March was $367,954, 1.3 percent higher than the $363,198 average last March.

Condos & Co-ops

There was a 9.7 percent year-over-year jump in March purchase activity with 339 new contracts for condos and a 3.0 percent increase in closed sales.

The 430 new listings added in March increased from last year’s mark by 22.2 percent and the five-year March average by 23.6 percent. At month’s end, active condo inventory is now 5 percent higher than the same point last year.

The 582 active listings headed into April represent 2.6 months of supply based on the average sales pace over the last twelve months, changing little from the 2.7 months of supply available at this point last year.

The average days-on-market (DOM) for condos sold in March was 63 days, a decrease of 3 days from March 2015. Half of these condos were on the market for 32 days or more, exactly the same mark as last March’s median DOM.

The average price per square foot for condos sold in March was $224, slightly higher than last March’s mark of $214.

The median sales price for condos in March was $223,000, representing an increase of 1.4 percent compared to last year. The average sales price in March was $257,228, a 2.3 percent dip compared to the $263,290 from March 2015.

Source: The Greater Capital Area Association of REALTORS® (GCAAR)


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PRESS/MEDIA Inquiries

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DISCLAIMER

Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS®. No representation, expressed or implied should be taken from information herein. Neither these organizations nor Next Day Home Sales®: Realtors® guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact one of Next Day Home Sales’ knowledgeable and experienced listing brokers/agents. Information contained in this report is not limited to transactions done by Next Day Home Sales®: Realtors®. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Next Day Home Sales®: Realtors®. Reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Next Day Home Sales®: Realtors®. Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Next Day Home Sales®: Realtors® and also cite the appropriate MLS.