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Montgomery County Home Inventory Receding, Prices Nudge Upward

Montgomery County’s inventory of homes for sale is still well above last year’s, but has receded a bit from last month.  In August, inventory was up over 43% from the prior August, while September’s numbers show a “mere” 36% increase.   Prices ticked up slightly, with the median sale price of a home in Montgomery County for September, 2014 coming in at $390,000, up 2.9% from this time last year.

Montgomery County Stats – September 2014
Montgomery County Home Sales Statistics - September 2014

One important item to note is that, as of this writing, interest rates are the lowest they’ve been in over a year, with the flagship 30-year mortgage dipping into the 3.75% to 4% range.  If you haven’t thought of buying or refinancing, we urge you to talk to us or your mortgage lender.

As always, the numbers that matter most are yours.   Drop us a line for a complimentary market analysis of your home or neighborhood.  We’re happy to help!

Laura Kittleman is a partner at The Kittleman Group of Keller Williams Select Realtors, working primarily in Howard County and Montgomery County, Maryland.  She can be reached at 301-785-5889 or laurak@kittlemangroup.com.

Tom Yeatts is a partner and Associate Broker with The Kittleman Group of Keller Williams Select Realtors.  He can be reached at 443.364.8867 or tom@kittlemangroup.com.


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