Is Montgomery County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
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
$588,660
$290/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Montgomery County was $588,660 in April 2024, up 4.7% from last year, and the median price per square foot was $290.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190.7K | $205K | +7.5% |
2 Bedrooms | $296.4K | $315K | +6.3% |
3 Bedrooms | $479.7K | $509.8K | +6.3% |
4 Bedrooms | $682K | $728.1K | +6.8% |
5+ Bedrooms | $1.0M | $1.0M | +4.0% |
Summary: Montgomery County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 4%.
Median Sold Price Compared To Nearby Counties
Fairfax County | $651.2K | $690.6K | +6.1% |
Prince George's County | $400K | $421.2K | +5.3% |
Howard County | $523.8K | $550.3K | +5.1% |
Loudoun County | $665.7K | $697.7K | +4.8% |
Montgomery County | $562.2K | $588.6K | +4.7% |
Housing Supply in Montgomery County, MD
How many homes are available in Montgomery County, MD?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2,088 | 2,538 | +21.6% |
Summary: The Montgomery County real estate market had 2,538 homes for sale in April 2024, a 21.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 173 | 165 | -4.6% |
2 Bedrooms | 346 | 378 | +9.2% |
3 Bedrooms | 559 | 673 | +20.4% |
4 Bedrooms | 537 | 711 | +32.4% |
5+ Bedrooms | 473 | 611 | +29.2% |
Summary: The Montgomery County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.6%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 20.4%, 4 bedroom homes increased by 32.4%, and 5+ bedroom homes increased by 29.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
707 | 713 | +0.8% |
Asking Price vs. Sold Price
142 Homes Were Sold
Under Asking
137 Homes Were Sold
At Asking
434 Homes Were Sold
Over Asking
Summary: A total of 713 homes were sold or pending in Montgomery County in April 2024, up by 0.8% month-over-month. Of the 713 sold homes, 20% were sold under asking, 19% were sold at asking, and 61% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
15 Days | 14 Days | -5.1% |
Summary: Homes in Montgomery County had an average of 14 days on market in Apr 2024, down by 5.1% compared to last year.
Breakdown of Home Sale Times
634 Homes Were Sold
Under 30 Days
61 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Summary: During April 2024, 713 homes were sold in Montgomery County; 89% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.