Rockville, Maryland Market Report – 8/10/10

10 Aug
August 10, 2010

Let’s look at the big picture: Fewer houses are for sale than there were one year ago, but more houses have sold. Houses are on the market for on average a month less than they were this time last year and today’s market prices are about the same or slightly higher. Interest rates are lower and are pretty much at the lowest level they have been in 30 years. 168 people bought a house in Rockville last month, should you?

Market Statistics for Rockville, Maryland:

  • # of Homes for Sale: 537 (compare to 525 in May, 537 in April and down from 570 at the same time last year)
  • # of Homes Sold: 168  (up from 151 in May, and up from 139 at same time last  year)
  • Median Home Price:  $386,750 (up from $375,350 in May, and up from $375,825 one year ago)
  • Average days on the market: 49 (down from 53 in May, and down from 75 one year ago). Continued reduction in time on market shows increasing demand.

Why Rockville? Strip shopping centers, large upscale stores and centers, restaurants, hotels, condos, apartments, office complexes, auto dealers, and everything else imaginable are found along Rockville Pike.
The Twinbrook and Rockville Metro stops are easily accessible and the MARC train also stops in Rockville. Rockville Town Center with its restaurants, apartments, condos, movie theaters and shops has brought new life to a once tired area of the city.

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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