Montgomery County Real Estate Trending to a Buyer’s Market

After a crazy-busy spring market with 30% increase in contracts compared to 2009, the most current statistics indicate that buyers will soon be back in the drivers’ seat as available inventory jumps up while contract activity cools down.

2010 06 Montgomery County MD Inventory June 2010

Inventory in Montgomery County steadily declined every month in 2009 through early 2010.  Then in March, tons of new homes came on the market.  Luckily for many sellers, so did the contract activity.  Now, new homes continue to be added to the market while buyer activity wanes.  With super low interest rates and a larger selection of homes, home buyers are in a great position to negotiate a great deal on a home purchase.

[August 22, 2010 - I caught an error in calculation of the number of distress inventory which should be at 1,071 homes - or 26% of the total, not 19%.  Sorry about that.]

Posted by Bruce Lemieux

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