Here’s my overall analysis: There is around a four percent increase in homes for sale this year compared to the number for sale one year ago. However, the numbers of units sold is about about nine percent lower. The current average days on market, is still below what it was last year but it does continues to rise. Houses are on the market for about a month less than they were this time last year and today’s prices are slightly higher. Interest rates are lower and are pretty much at the lowest level they have been in 30 years. My expectation is for a stable market for the balance of the year.
Market Statistics for Rockville, Maryland:
- # of Homes for Sale: 520 (compare to 515 in July and 498 in August 2009)
- # of Homes Sold: 113 (down from 122 in July, and down from 124 at same time last year)
- Median Home Price: $374,250 (up from $349,600 in July, and up from $365,750 one year ago)
- Average days on the market: 55 (up from 42 in July, and down from 74 one year ago).
Being located in the center of the county and having many transportation, shopping and entertainment options makes Rockville a very desirable place to live.
Data, commentary and analysis provided by David Hess, Executive Vice President, Avery-Hess, Realtors
Find Your Home. Plan Your Life. www.averyhess.com