Is Montgomery County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$592,794
$291/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Montgomery County was $592,794 in May 2024, up 5.1% from last year, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $194.5K | $205.5K | +5.6% |
2 Bedrooms | $296.2K | $315K | +6.3% |
3 Bedrooms | $480K | $513.3K | +6.9% |
4 Bedrooms | $689.9K | $736.8K | +6.8% |
5+ Bedrooms | $1.0M | $1.1M | +7.8% |
Summary: Montgomery County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Counties
Fairfax County | $651.2K | $696K | +6.9% |
Prince George's County | $400K | $424.7K | +6.2% |
Loudoun County | $667.2K | $702.7K | +5.3% |
Montgomery County | $564.1K | $592.7K | +5.1% |
Howard County | $524.8K | $550.9K | +5.0% |
Housing Supply in Montgomery County, MD
How many homes are available in Montgomery County, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2,508 | 2,866 | +14.3% |
Summary: The Montgomery County real estate market had 2,866 homes for sale in May 2024, a 14.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 168 | 180 | +7.1% |
2 Bedrooms | 377 | 448 | +18.8% |
3 Bedrooms | 669 | 741 | +10.8% |
4 Bedrooms | 690 | 790 | +14.5% |
5+ Bedrooms | 604 | 707 | +17.1% |
Summary: The Montgomery County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 17.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
752 | 647 | -14.0% |
Asking Price vs. Sold Price
138 Homes Were Sold
Under Asking
139 Homes Were Sold
At Asking
370 Homes Were Sold
Over Asking
Summary: A total of 647 homes were sold or pending in Montgomery County in May 2024, down by 14.0% month-over-month. Of the 647 sold homes, 21% were sold under asking, 21% were sold at asking, and 57% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 14 Days | -3.7% |
Summary: Homes in Montgomery County had an average of 14 days on market in May 2024, down by 3.7% compared to last year.
Breakdown of Home Sale Times
584 Homes Were Sold
Under 30 Days
49 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During May 2024, 647 homes were sold in Montgomery County; 90% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.