I am sure you noticed how quickly some homes sell nowadays. It is fascinating that 2018 brings such an enormous impact on housing market. I was browsing around and decided to share some statistics with everyone who is interested in real estate in general. These statistics are related to 3 counties – Frederick, Washington and Montgomery Counties in MD. They focus on comparing data of May 2018 to the same month (May) within last 5 years.
In May 2018 we had more closed sales than 5-year May average. On average we had about 396 transactions closed, where in May 2018 there were 454 transactions closed. At the same time, we have less new homes on the market. 5 years May average shows 1125 homes active on the market, where in May 2018 we had only 973 active. That means that we had less homes and more sales that last 5 years on average.
Montgomery County, MD
Montgomery County tends to be more dynamic due to closer proximity to DC. 5 years May average shows 1245 closed transactions, where May 2018 shows 1314 transactions closed. When we take a look at active homes on the market – again we had less active homes in May 2018 (2384 active homes) than 5 years May average (2822 active homes). Again – more closed transactions with less inventory on the market.
Washington County, MD
We can observe comparable situation in Washington County to Frederick and Montgomery County. 5 years May average shows 161 closed transaction and 768 active listings compare to May 2018 – 191 closed transactions with only 657 active listings.
If you are interested in any further or deeper statistics, feel free to reach out to me.