Health & Fitness
How's the Real Estate Market in 20850?
February 2012 Report on the State of the Real Estate Market in Rockville's Zip Code 20850
It might be the milder weather and it might be the improving economy in our area, but the real estate market for resales in Montgomery County seems pretty active right now.
In Rockville’s zip code 20850, inventory was up with 48 new listings in February 2012, which is better than January’s 42, and better than last year’s 44 new listings. Overall inventory was 79 homes for sale, below the five year average of 109. Many agents with buyers are complaining about the lack of inventory right now!
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Closed sales stood at 18, lower than last month but higher than last February.
February 2012 median sold price was $352,500, reflecting a big dip in single family home prices. This was lower than last month’s $369,500 and last February’s $370,000. I don’t think this reflects any trend, there were just more homes in the lower price range that sold. Sellers were getting more of their asking price this month – 95%, above the five year average.
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The average time it took to get a contract was 83 days for February 2012 home sales, which was above average.
Click here to get a free report that shows these real estate sales statistics and more for zip code 20850. The report includes comparisons to January 2012 and February 2011, as well as the five year average.
