Are you considering buying or selling in Montgomery County? Here’s is your fall breakdown of the current market conditions in MontCo.
First up, we have the Months Supply of Inventory at 1.51, which means that at the current rate of sales, it would take about 1.51 months to sell all the available homes on the market. This indicates a pretty fast-moving market with limited inventory.
Next, we have the 12-Month Change in Months of Inventory at +19.84%. This shows that there has been an increase in the amount of time it would take to sell all available homes compared to a year ago. This could be due to a decrease in demand or an increase in inventory.
Moving on to the Median Days Homes are On the Market at 14, which is a pretty quick turnaround time. This means that homes are selling relatively fast once they are listed, which is great news for sellers.
The List to Sold Price Percentage at 101% indicates that homes are selling for slightly above their listing price on average. This could be a sign of strong buyer demand in the market.
Lastly, the Median Sold Price at $442,640 gives us an idea of the average price that homes are selling for in this market. This can be helpful for both buyers and sellers to gauge the overall affordability and value of properties in the area.
Overall, these metrics paint a picture of a fast-paced market with strong demand and rising prices here in Montgomery County, PA. Whether you’re looking to buy or sell, it’s important to keep these factors in mind and work with a knowledgeable real estate agent to navigate the current market conditions. Happy house hunting or selling!
