How's the Real Estate Market in 20878?

I don’t know if it is the milder weather, or if there is pent up demand, but the overall Montgomery County housing market for resales feels pretty hot right now.

Zip code 20878 had 65 new listings in February, better than January’s 54, but actually less than last February‘s 91 homes that came on the market.  Overall inventory was below the five year average with only 132 homes on the market.

Thirty five homes went to closing, less than in January 2012 at 50, but a little better than last years’ 33 closed.

But the good news is in sales prices - February 2012 saw a higher median sold price of $485,000, better than January’s $398,922 and last February’s $400,000; and beating the five year average of $394,400.  This figure includes all types of homes: single family, townhome and condo.  Sellers are also getting more of their asking price – 93.3% which compares favorably to the five year average.

The average DOM (days on market) were higher in February, as compared to both January and last February 2011.

Click here to get a free report that shows these real estate sales statistics and more for zip code 20878.  The report include comparisons to January 2012 and February 2011, as well as a five year average marker.