Is Montgomery County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Montgomery County has remained a Seller's Market.
Housing Prices in Montgomery County, MD
How much do homes in Montgomery County, MD cost?
Median Sold Price
$579,546
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Summary: The median home sold price in Montgomery County was $579,546 in November 2023, up 5.2% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $190.5K | $205K | +7.6% |
2 Bedrooms | $295.9K | $305.1K | +3.1% |
3 Bedrooms | $470.7K | $499.9K | +6.2% |
4 Bedrooms | $675.5K | $715.6K | +5.9% |
5+ Bedrooms | $1.0M | $1.0M | +3.6% |
Summary: Montgomery County housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Counties
Howard County | $508.6K | $544.1K | +7.0% |
Prince George's County | $394.8K | $416.5K | +5.5% |
Montgomery County | $551.1K | $579.5K | +5.2% |
Fairfax County | $648.2K | $673.9K | +4.0% |
Loudoun County | $660.1K | $684.7K | +3.7% |
Housing Supply in Montgomery County, MD
How many homes are available in Montgomery County, MD?
Number of Homes For Sale
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
3,356 | 3,324 | -1.0% |
Summary: The Montgomery County real estate market had 3,324 homes for sale in November 2023, a 1.0% decrease compared to October 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 204 | 219 | +7.4% |
2 Bedrooms | 546 | 548 | 0.4% |
3 Bedrooms | 901 | 899 | -0.2% |
4 Bedrooms | 859 | 822 | -4.3% |
5+ Bedrooms | 846 | 836 | -1.2% |
Summary: The Montgomery County housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 7.4%, 2 bedroom homes increased by 0.4%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 1.2%.
Number of Homes Sold
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
632 | 597 | -5.5% |
Asking Price vs. Sold Price
194 Homes Were Sold
Under Asking
143 Homes Were Sold
At Asking
260 Homes Were Sold
Over Asking
Summary: A total of 597 homes were sold or pending in Montgomery County in November 2023, down by 5.5% month-over-month. Of the 597 sold homes, 32% were sold under asking, 24% were sold at asking, and 44% were sold over asking.
Days on Market for Montgomery County, MD
How long does it take to sell a home in Montgomery County, MD?
Average Sale Time
Nov 2022 | Nov 2023 | CHANGE |
---|---|---|
23 Days | 18 Days | -23.2% |
Summary: Homes in Montgomery County had an average of 18 days on market in Nov 2023, down by 23.2% compared to last year.
Breakdown of Home Sale Times
493 Homes Were Sold
Under 30 Days
88 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During November 2023, 597 homes were sold in Montgomery County; 83% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.