Real Estate Information Archive

Last week I reported that the number of homes sold in Clarksburg during September 2008 had increased compared to last September.

This same trend is evident in Montgomery County.

A total of 768 homes sold in September 2008, a 31.78 increase over September 2007.  The total sold volume was $351,771,293 -- a 17.98 percent increase over last year.

The Montgomery County median selling price was down, indicating that more homes in the lower price range are selling than last year, and the days-on-the-market average shows that homes are staying on the market longer than last year by 23.17 percent.

The upshot: there are more buyers than last September, but they are being cautious before making a buying decision.

Here's the latest update on residential real estate sales in Montgomery County, Maryland.

The  average price of homes sold in December in Montgomery County was up 1.19 percent compared to December 2006.  Given all the gloomy reports that we've been seeing in the new media this a refreshing surprise.

A total of 576 homes and condos sold compared to 963 last year during this period, and the average time on the market is up 36.14 percent.  So even though prices are up slightly, homes are generally taking longer to sell than in recent years.

This means that savvy home buyers still hold the advantage over sellers in this market.

The average price of homes and condos sold last month in Montgomery County was $521,555, which is up 2.11% compared to October 2006.

The number of units sold, however, dropped 36.19% and the average days on the market increased from 74 to 94.

So smart buyers are in a position to negotiate a favorable outcome for themselves compared to the market just a few years ago when sellers ruled the world.