Montgomery County Market for 2015
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REALTOR4U
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I have noticed posts about the market conditions and decided to share with you the year-to-date stats for Montgomery County through September 2015.
Through the first nine months of 2015, the number of homes sold in Montgomery County is up 11.91% over 2014, the median sold price of $400,000 is flat, the average sold price is down .38% at $506,579 and the average days on market is up 19.57% to 55 days. Overall, we currently have about 3.4 months or approximately 3500 homes actively available in the County. However, homes over 1M face nearly a seven month inventory resulting in a buyer's market in the upper price range. Have questions about your area, please let me know. I can run reports by zip code and in some cases, by sub-division. Source: RBI Intel & MRIS |
Anonymous
| Things are changing. Thanks for the information. |
Anonymous
| What about Prince William County? |
REALTOR4U
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Through the first nine months of 2015, the number of homes sold in Prince William County is up 13.4% over 2014, the median sold price of $325,000 is up 2.52%, the average sold price is up .69% at $353,725 and the average days on market is up 22.73% to 54 days. Overall, we currently have about 3.6 months or approximately 2155 homes actively available in the County. Have questions about your area, please let me know. |
Anonymous
| Thanks for the info. Very interesting, indeed. Any idea on the outlook for the rest of 2015 and going into winter 2015/2016? Will talk of rising interest rates push more buyers and sellers into the market than usual? |
REALTOR4U
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Our crystal ball is murky. I expect the current trends to continue where affordable, closer-in properties continue to well and areas a bit further out will lag. Inventory levels are generally low and if that trend continues into the Spring market, prices may rise a few percent. As for interest rates affecting the market, I expect little to no effect. Interest rates remain historically low and a 4-4.5%, even 5% will be fine. We have been spoiled with low rates.
The bigger problem will be years down the road where homeowners may be reluctant to sell and move-up because the 3.5% rate on their current home may be replaced with a 6%+ mortgage. |
Anonymous
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I'm a financial economist and agree with the above points (made by REALTOR4U). In my opinion, he's correctly diagnosed the present-term and long-term effects of pending interest rate increases.
I'll be even more blunt: rising interest rates will not affect sales prices. |
REALTOR4U
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Thank you |
Anonymous
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useless reports. the house someone wants to buy is worth what they want to buy it for.
not based on any trends. real estate 101. |
REALTOR4U
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Actually, a house is worth what a willing buyer and seller can agree upon, not what someone wants to buy it for. The point of the reports is simply to provide information about the state of the market to those who may be interested in knowing. While you may disagree, others do find this information beneficial. |
Anonymous
Thanks for this insight. Do you have specific information about the Forest Knolls subdivision in 20901? |
Anonymous
| Thanks REALTOR. Have any info for Alexandria (Old Town)? |
Anonymous
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Interesting. I think it really depends exactly where. Real estate is a micro market. In our neighborhood houses literally sell in days, for over list, but we're walkable to metro and to Friendship Heights stores.
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Anonymous
| I like these updates; what do you think on the Woodridge neighborhood? |