$8,253 Closing Credit*
$695,000
1,499 SqFt
3 Beds
•3 Full Baths, 1 Partial
David L Maplesden, Listing Office: Long & Foster Real Estate, Inc.
Is Montgomery County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Montgomery County has remained a Seller's Market.
Key Takeaway
Montgomery County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montgomery County, MD
How much do homes in Montgomery County, MD cost?
Median Sold Price
$606,055
$297/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,414(+4.4%)
Key Takeaway
Homes in Montgomery County have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Montgomery County was $606,055 in October 2024, up 4.4% from last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $216.5K | +5.6% |
| 2 Bedrooms | $304K | $324.9K | +6.9% |
| 3 Bedrooms | $499.9K | $529.7K | +5.9% |
| 4 Bedrooms | $712.7K | $753.2K | +5.7% |
| 5+ Bedrooms | $1.0M | $1.1M | +9.0% |
Summary: Montgomery County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 9%.
Median Sold Price Compared To Nearby Counties
| Loudoun County | $679.9K | $727.6K | +7.0% |
| Fairfax County | $673.3K | $717.9K | +6.6% |
| Howard County | $541.8K | $570.4K | +5.3% |
| Montgomery County | $580.6K | $606K | +4.4% |
| Prince George's County | $415.1K | $429.5K | +3.5% |
Housing Supply in Montgomery County, MD
How many homes are available in Montgomery County, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2,434 | 2,772 | +13.9% |
Summary: The Montgomery County real estate market had 2,772 homes for sale in October 2024, a 13.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 168 | 191 | +13.7% |
| 2 Bedrooms | 428 | 485 | +13.3% |
| 3 Bedrooms | 705 | 788 | +11.8% |
| 4 Bedrooms | 620 | 696 | +12.3% |
| 5+ Bedrooms | 513 | 612 | +19.3% |
Summary: The Montgomery County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.7%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 19.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 659 | 781 | +18.5% |
Asking Price vs. Sold Price
226 Homes Were Sold
Under Asking
214 Homes Were Sold
At Asking
340 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montgomery County, you could pay more than the asking price. 43.6% of homes here sold above asking price last month.
Summary: A total of 781 homes were sold or pending in Montgomery County in October 2024, up by 18.5% month-over-month. Of the 780 sold homes, 29% were sold under asking, 27% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 22 Days | +18.2% |
Summary: Homes in Montgomery County had an average of 22 days on market in Oct 2024, up by 18.2% compared to last year.
Breakdown of Home Sale Times
612 Homes Were Sold
Under 30 Days
140 Homes Were Sold
In 30 - 90 Days
29 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montgomery County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 781 homes were sold in Montgomery County; 78% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
