The Long & Foster Market Minute

Focus On: Montgomery Village Housing Market June 2021

Zip Code(s): 20886
Units Sold
57
Active Inventory
33
Median Sale Price
$313,000
Days On Market
7
Up
Vs. Year Ago
Down -28%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -72%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 57 sold this month in Montgomery Village Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 13 units or 28%. The total number of active inventory this June was 33 compared to 46 in June 2020. This month's total of 33 is lower than the previous month's total supply of available inventory of 36, a decrease of 8%.

Median Sale Price
Last June, the median sale price for Montgomery Village Homes was $332,500. This June, the median sale price was $313,000, a decrease of 6% or $19,500 compared to last year. The current median sold price is 7% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
74
Current Contracts
69
Sold Vs. List Price
104.8%
Months of Supply
0.6
Up 19%
Vs. Year Ago
Up 13%
Vs. Year Ago
Up 4.7%
Vs. Year Ago
Down -55%
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in Montgomery Village, compared to 1.3 in June 2020. That is a decrease of 55% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 74 homes newly listed for sale in Montgomery Village compared to 62 in June 2020, an increase of 19%. There were 69 current contracts pending sale this June compared to 61 a year ago. The number of current contracts is 13% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Montgomery Village was 104.8% of the average list price, which is 4.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 7, lower than the average last year, which was 25, a decrease of 72%.

The Long & Foster Market Minute Montgomery Village are defined as properties listed in zip code/s 20886.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does 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 BRIGHTMLS or Long & Foster Real Estate, Inc.