 |
 |
 |
 |
 |
|
 |
 |
on Twitter
MoCo Areas
- Bethesda
- Clarksburg
- Darnestown
- Gaithersburg
- Germantown
- North Potomac
- Olney
- Poolesville
- Potomac
- Rockville
- Silver Spring
Article Topics
Past Articles
- September 2010 (2)
- August 2010 (3)
- July 2010 (8)
- June 2010 (22)
- May 2010 (15)
- April 2010 (4)
- March 2010 (5)
- February 2010 (3)
- January 2010 (8)
- December 2009 (53)
- November 2009 (4)
- October 2009 (5)
- September 2009 (4)
- August 2009 (21)
- July 2009 (6)
- June 2009 (14)
- May 2009 (6)
- April 2009 (5)
- March 2009 (3)
- February 2009 (7)
- January 2009 (8)
- December 2008 (5)
- November 2008 (8)
January’s sales activity: the good and the bad
February 6th, 2009 Categories: Market Updates
Home sales statistics for the last four months for Montgomery County are a good-news-bad-news story. Let’s start with the good news.
- Compared to the last four months this time last year, overall sales activity increased over 7%.
- As a sign that buyers may be starting to shake off their buying blues, contracts for December and January were much stronger up 28% and 13% respectively.
Sounds great! So what’s the bad news?
Pricing continues to be pressured downward which is good or bad depending if you are buying or selling. Clearly this is bad news for home sellers with little or no equity, and for retirees with a need to sell right now. Continued downward pricing pressure increases distress sales and foreclosures which is bad for everyone. For buyers and local move-ups, this is good news as homes are more affordable.
The number of contracts by listing price clearly tells the story. Buyers are dealing at lower prices:
OK – back to the good news. Overall, I believe the increase in home contracts is a very good sign for our real estate market. It tells us that buyers and sellers in Montgomery County are still coming together. And, with low interest rates and stable employment, we could soon see price stability this year.
I’ll followup with posts looking at specific areas in the county. If you are ready to buy in today’s market, see all homes for sale in Montgomery County. Contact us anytime if you would like more information on the value of your home or neighborhood.