September 14th, 2009 Categories: Market Updates
A mid-September snapshot of available homes in Montgomery County shows that the trend of declining housing inventory continues. This time last month, there were 3,435 homes on the market in Montgomery County. Now there’s 3,376 – a 1.7% reduction. For all practical purposes, this month’s inventory is flat from last month. The total number of estimated distress sales is 820 down from 867 last month – a reduction of 5.4%. If you are in the market for a home right now, it’s easy to be frustrated by the lack of fresh, new homes. I’m finding that very nice, well-priced homes go quick.
Will inventory continue to dwindle through year end? I think so. I believe that inventory will stay flat or drift at current levels through the end of January. For sellers, this can be a great time to enter the market given the low level of competing properties.
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