Rockville, Maryland Market Report – 5/5/10

05 May
May 5, 2010

The real estate market in Montgomery County has been gaining strength steadily since December 2008 when prices bottomed.  As the county seat, Rockville is an active area, both the newly built downtown and in the surrounding neighborhoods. Fallsgrove and King Farm are two planned communities in the Rockville “suburbs”and afford a range of housing options for both the single professional and the family Both communities, as well as downtown/Oldtown Rockville are also very “walkable.”

Multiple contracts are very common on prices under $360,000. Also, after two years of tightening, real estate mortgage lending seems to be getting easier for qualified buyers.

Market Statistics for Rockville, Maryland

  • # of homes for sale: 537 (way up from 423 in February, down from 558 same time last year)
  • # of homes sold: 96 (up from 74 in snowy February, and up from 85 at same time one year ago)
  • Median Home Price: $336,663 (down from $349,125 last month and down from $348,225 one year ago)
  • Average days on the market: 61 (up from 58 last month, down from 83 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

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