Market Slows: Sales Volume Down, Prices Down and Days on the Market Up

A Quick Snapshot of Montgomery County Market: Sales Volume in October 2015 was down 4.77% relative to October 2014 (880 units versus 924 units). Average price was also down 4.16%. The slowing of the current market was also reflected in that Days on the Market (DOM) was higher in 2015 than in year before, 64 DOM versus 56 DOM in 2014. This shows that the pace of sales is taking longer in this year’s market. Despite this recent downturn in October, over the summer things were moving. In fact, if we look at the preceding 90 day period (JUL 25-OCT 20) for each year, then Sales Volume was actually up 10.89% while Average Sales Prices were essentially unchanged at -0.25%. A new Monthly Report is issued around the 12th Day of each month so, December should be forthcoming soon. For a full report check out https://legacy.ciment.com/monthly-market-snapshot.

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Barbara Ciment, Realtor