The Great Capital Association of Realtors released the December Market Report for Montgomery County, MD. The report also summarizes the annual data for 2015. Highlights include an 11% increase in Single Family Home transactions for 2015 with 9,340 vs 8377 in 2014. Average Sales Price decreased to $569,364 which is a 3 year low. The overall theme being increases inventory placed some pressure on pricing as demand was not able to eclipse supply. It's still a great time for Buyers to enter the Single Family Market in Montgomery County with Interest Rates still at Historic Lows. The Mortgage Bankers Association reported in a November Press Release that credit availability has increased for potential borrowers. The hottest price point in Montgomery County in terms of sales volume is $300,000 - $399,000 with 2122 Settlements in 2015. A close second for price point was $400,000 - $499,000 with 1,626 Settlements in 2016. The two brackets combined for 40% of the market activity in 2015. Recently National Association of Realtors® Chief Economist Lawrence Yun predicted National Real Estate growth to be modest in 2016 in a newly-released video on his 2016 housing market expectations.
Author:Everett Greenstreet Phone: 240-793-2708 Dated: January 16th 2016 Views: 133 About Everett: My client philosophy:
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