Montgomery County MD Real Estate Market Report August 2014

TABLE OF CONTENTS
Charts and Commentary .. Pages 1-2

Market Summary Table .. Page 3
Glossary ... Page 4
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MONTGOMERY COUNTY MONTGOMERY COUNTY MONTGOMERY COUNTY MONTGOMERY COUNTY
REAL ESTATE MARKET REPORT
Tania Ivey & Marc Cormier
Keller Williams Realty
2101 Wilson Boulevard Suite 100
Arlington, VA 22201
www.Help2ownaHome.com
www.MarcCormier.me
Marc@Help2ownaHome.Com
Tania.ivey@gmail.com
301 660-6272
703 564-4026
mddcvahotprops
https://www.facebook.com/pages/Fairfax-County-Luxu
Real Market Reports
www.RealMarketReports.com
Taking a closer look, we notice that
the $300K - $400K price range has a
relatively large number of contracts
pending sale.
We also notice that the $0K - $100K
price range has a relatively large
inventory of properties for sale at 628
listings. The median list price (or
asking price) for all properties in this
market is $464,835.
A total of 4720 contracts have closed
in the last 6 months with a median sold
price of $480,000. Breaking it down,
we notice that the $300K - $400K price
range contains the highest number of
sold listings.
Alternatively, a total of 2386 listings
have failed to sell in that same period
of time. Listings may fail to sell for
many reasons such as being priced
too high, having been inadequately
marketed, the property was in poor
condition, or perhaps the owner had
second thoughts about selling at this
particular time. The $0K - $100K price
range has the highest number of off-
market listings at 524 properties.
"Current inventory is described
as mildly active."
at the real estate market. Currently
there are 1305 sales pending in the
market overall, leaving 3163 listings
still for sale. The resulting pending
ratio is 29.2% (1,305 divided by
4,468). So you might be asking
yourself, that's great... but what
exactly does it mean? I'm glad you
asked!
The pending ratio indicates the supply
& demand of the market. Specifically,
a high ratio means that listings are in
demand and quickly going to contract.
Alternatively, a low ratio means there
are not enough qualified buyers for the
existing supply.
0
100
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700
$
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M
$
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M
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4
M
Properties For Sale
Contracts Pending
0
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M
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M
$
1
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M
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M
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4
M
Sold
Off-Market
Montgomery County
Number of Listings For Sale vs. Pending Contract
Montgomery County
Num Sold vs. Off-Market (Last 6 mos.)
Let's take a look
1
Real Market Reports
Updated 8/31/2014, RealMarketReports.com
Copyright Tania Ivey & Marc Cormier
Sunday, August 31, 2014
Market Dashboard
301 660-6272
Analysis of the absorption rate
indicates an inventory of 4.0 months
based on the last 6 months of sales.
This estimate is often used to
determine how long it would take to
sell off the current inventory of
properties if all conditions remained
the same. It is significant to mention
that this estimate does not take into
consideration any additional properties
that will come onto the market in the
future.
Looking at the chart to the right, you
might be wondering why average days
on market (DOM) is important. This is
a useful measurement because it can
help us to determine whether we are
in a buyer's market (indicated by high
DOM), or a seller's market (indicated
by low DOM). Active listings
(properties for sale) have been on the
market for a median time of 50 days.
Analysis of sold properties for the last
six months reveals a median sold
price of $480,000 and 14 days on
market. Notice that properties in the
$700K - $800K price range have sold
quickest over the last six months.
The recent history of sales can be
seen in the two charts below. The
median sold price for the last 30 days
was $471,125 with a DOM of 21 days.
Since the recent DOM is greater than
the median DOM for the last 6 months,
it is a negative indicator for demand. It
is always important to realize that real
estate markets can fluctuate due to
many factors, including shifting interest
rates, the economy, or seasonal
changes.
Ratios are simple ways to express the
difference between two values such as
list price and sold price. In our case,
we typically use the list-to-sale ratio to
determine the percentage of the final
list price that the buyer ultimately paid.
It is a very common method to help
buyers decide how much to offer on a
property.
"The median list-to-sales ratio
for this area is 98.2%."
0
20
40
60
80
100
120
140
$
0
K
$
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$
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$
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M
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1
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M
$
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M
$
1
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3
M
$
1
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4
M
Sold
For Sale
$400K
$420K
$440K
$460K
$480K
$500K
$520K
$540K
Mar Apr May Jun Jul Aug
0
5
10
15
20
25
Mar Apr May Jun Jul Aug
Montgomery County
Median Days on Market (DOM)
Montgomery County
Median Days on Market (Sold)
Montgomery County
Median Sold Prices
2
Real Market Reports
Market Dashboard
301 660-6272
A
M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
Date Range (Off-Market & Sold) = 03/02/2014 to 08/31/2014
Data believed to be accurate but not guaranteed.
3.3
5.2
10
2.8
3.1
2.6
4.3
3.5
3.5
3
3.2
1.7
1.9
2.8
Status = [1] ACTIVE; [2] CNTG/KO, CNTG/NO KO, CONTRACT; [3] EXPIRED, WITHDRN, TEMPOFF; [4] SOLD
County = MONTGOMERY
PropertyType = Residential

480,000 $ 98%
589,539 $ 98%
Market Medians 50 464,835 $ 14 499,000 $ 489,000 $
2,386 4720
Market Averages 74 633,125 $
Market Totals 3,163 1305 29%
34 608,167 $ 598,542 $
1,797,000 $ 1,735,000 $ 97%
177
64
31 1,825,000 $
2,020,021 $ 96% 2,153,709 $ 2,111,714 $ 2,418,494 $
54 15% 196
1,995,000 $
$1,400,000 + 295
135
104
1,338,020 $ 99%
115 1,362,500 $ 15 1,389,000 $ 1,375,000 $ 1,325,000 $ 96%
51
38 1,383,815 $ 1,358,005 $ 1,360,336 $
16 27% 28 $1,300,000 $1,399,999 44
142
1,247,260 $ 99%
74 1,250,000 $ 26 1,295,000 $ 1,290,000 $ 1,250,000 $ 97%
77
52 1,295,275 $ 1,265,377 $ 1,256,072 $
15 26% 34 $1,200,000 $1,299,999 42
115
1,141,154 $ 98%
79 1,157,500 $ 14 1,195,000 $ 1,175,000 $ 1,140,000 $ 97%
83
32 1,183,216 $ 1,167,466 $ 1,163,101 $
27 31% 60 $1,100,000 $1,199,999 60
108
1,037,699 $ 97%
79 1,050,000 $ 17 1,085,000 $ 1,067,450 $ 1,030,000 $ 96%
86
41 1,095,053 $ 1,066,506 $ 1,062,302 $
16 30% 37 $1,000,000 $1,099,999 37
109
946,136 $ 99%
56 952,495 $ 9 965,000 $ 950,000 $ 949,000 $ 100%
149
28 963,710 $ 956,797 $ 960,894 $
28 27% 60 $900,000 $999,999 76
87
843,145 $ 100%
75 865,000 $ 9 849,000 $ 849,000 $ 840,000 $ 99%
245
32 854,745 $ 847,216 $ 862,488 $
51 31% 84 $800,000 $899,999 113
102
746,314 $ 99%
65 750,000 $ 10 750,000 $ 749,950 $ 749,000 $ 100%
355
645,000 $ 99%
30%
646,197 $ 75 655,176 $
108
552,798 $
127
52 549,900 $
53 650,000 $
541
33 70 546,639 $
13 550,000 $
29%
545,000 $
960
350,000 $ 100%
452,494 $
193 31%
358,927 $
287 39% 319
$400,000 $499,999 426
60
359,900 $
$300,000 $399,999 447
61
42
264 56% 153
99%
268,456 $
17 265,000 $
258,295 $ 255,026 $ 99%
$200,000 $299,999 210
52
Price Range
Num
#
$100,000 $199,999 29
95 180,322 $
57 66%
Days
on
Market
Current
List
Price
A = Average Value
M = Median Value
N/A = Not Available
3163 ACTIVE
[1]
List-
Sale
Ratio
Est.
Mos.
Low High
2386 OFF-MARKET (last 6 mos)
[3]
ABSORPTION RATE
(months of inventory)
Num
#
Num
#
Num
#
4720 SOLD/CLOSED (last 6 months)
[4]
Days
on
Market
Original
List
Price
Final
List
Price
Sold/
Closed
Price
MARKET SUMMARY TABLE
1305 PENDING
[2]
$0 $99,999 628
41
30
Pend
Ratio
2,888 $
0
2,500 $
524 0
38 186,452 $ 180,831 $ 175,494 $ 97%
185,000 $ 185,000 $ 181,500 $ 98% 63 189,900 $ 16
664
34
40 265,000 $
35 103
260,742 $
259,900 $ 257,000 $
36 359,376 $ 352,951 $ 349,636 $ 99%
358,950 $ 350,000 $
13 449,900 $
447,964 $
17
445,000 $ 439,900 $ 99%
733
31
45 449,900 $
300
443,452 $ 99%
99%
651,382 $
99%
99%
750,377 $
30
454,497 $
559,220 $ 552,881 $
549,900 $
12 650,000 $ 649,250 $
62
26 757,803 $
658,223 $
189
756,611 $
$700,000 $799,999 189
107
$500,000 $599,999 318
$600,000 $699,999 249
4
496
217
25% 150
3
Real Market Reports
Market Summary Table
301 660-6272
Favors Sellers Favors Buyers
1. PROPERTIES FOR SALE (ACTIVE)
a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase
agreement.
b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings
which have had a previous listing period, but were re-entered as a new listing.
c. Current List Price: The price that a property seller is currently asking.
2. CONTRACTS PENDING
a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed.
b. Pending Ratio: Sometimes called a list-to-pending ratio. This is a measure of how fast properties are going under
contract vs. how fast they are being listed.
Pending Ratio = P (Number of Pending Listings)
A+P (Number of Active + Pending)
(P) represents properties that buyers have chosen
(A+P) represents the entire pool from which they have chosen
3. OFF-MARKET
a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some
owners may choose to re-offer their property for sale.
4. PROPERTIES SOLD (CLOSED CONTRACT)
a. Number Sold: The number of properties that have gone to a closing in the last 6 months.
b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months.
c. Original List Price: The price at which a sold property was originally marketed.
d. Final List Price: The price at which a sold property was marketed just prior to selling.
e. Sold/Closed Price: The price for which a property sold.
f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.
List to Sales Ratio = Sold Price
Final List Price
5. ABSORPTION RATE / MONTHS OF INVENTORY
a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months.
For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of
inventory before counting the additional properties that will come on the market.
Real Market Reports
4
Glossary
301 660-6272

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TABLE OF CONTENTS

Charts and Commentary .. Pages 1-2

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