The real estate market in Montgomery County has been gaining strength steadily since December 2008 when prices bottomed. Rockville as the county seat is a very popular place to live and that popularity is reflected in the market statistics shown below.
Multiple contracts are very common on prices under $350,000. Also, after two years of tightening, real estate mortgage lending seems to be getting easier for qualified buyers. It is either getting easier or those of us in the business have just gotten used to it so it feels easier!
Market Statistics for Rockville, Maryland (20850, 20851, 20852, 20853)
- # of homes for sale: 423 (down from 526 last year)
- # of homes sold: 74 (up from 69 last month, and up from 63 at same time one year ago)
- Median Home Price: $349,125 (up from $334,988 one year ago)
- Average days on the market: 58 (way down from 124 one year ago)
Data, commentary and analysis provided by David Hess, Executive Vice President, Avery-Hess, Realtors
Find Your Home. Plan Your Life. www.averyhess.com