Although November 2010 sounds like such a long time ago, it really has only been around 45 days. Remember we all had the holidays just around the corner and FLASH -Here we are in a brand new year with many positive things to look forward to.
Looking back – Rockville, Maryland had an increase in Average Sales price in November 2010 in comparison to November 2009. This was not a small increase either – prices went up from $382,927 (2009) to $435,976 (2010). This was due in part to less inventory and favorable interest rates.
The number of active listings is down from 495 in November 2009 to 461 in November 2010.
Overall Montgomery County’s Housing Market is well on its way to a slow but sure recovery. The Average Sold Price of $468,000 is up 16.15% from November of 2009, and up 5.31% from last month.
Here is another bit of good news. The average Sold Price to average List Price Ratio is 93.09%. Of course I would rather see 98% (or even 100%) of List Price but 93.09% is not bad at all!
Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.
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