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Housing Market Update

Housing Market Update

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Published by M-NCPPC

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Published by: M-NCPPC on Jul 25, 2008
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12/24/2009

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Research & Technology Center
 Montgomery County Planning Department 
Housing Market Update
 
Montgomery County, Maryland
Sharon Suarez, AICPHousing Coordinator 
September 25, 2007 
 
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Montgomery County, Maryland September 25, 2007Research & Technology Center 1 Montgomery County Planning Department
Overview
The Research & Technology Center of the Montgomery County Planning Department monitors,analyzes and publishes reports on a variety of housing market trends and statistics. This informationis used widely to:develop forecasts of future jobs, population and housing growth;shape County policies on affordable housing, growth, transportation and land use planning;
assess the health of the local housing and construction sectors and of the County’s economy
in general;prepare County revenue estimates; andrespond to a wide range of data requests from County leaders, staff and the general public.Recent instability
in the nation’s housing market
has intensified interest in the condition of 
Montgomery County’s housing market.
In response, the Research & Technology Center presents thisHousing Market Update report, giving decision-makers and residents timely access to key housingmarket indicators, including:Time on the MarketMedian Home Sales PricesHome Sales VolumeHousehold IncomeEmerging Housing Market TrendsAdditional housing market information is available in the following Research & Technology Centerreports and in our online data centers, available at www.mcfacts.org.  Economic Forces that Shape Montgomery CountySenior Housing ReportMontgomery County At-A-GlanceMD355/I-270 Technology Corridor Report
 
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Montgomery County, Maryland September 25, 2007Research & Technology Center 2 Montgomery County Planning Department
Time on the Market 
Summer months typically provide the shortest times on the market.The average number of days that homes are staying on the market continues to shorten from last
winter’s peak of 
96 days to 68 days in July. This was just 9 days longer than the 59-day average inJuly of 2006.Time on the market averaged 25 days in July of 2004 and 2005, and 22 days in July of 2003.
M-NCPPC
Research & Technology Center 
Time-on-the-market
peaked in February 2007.
Source:
MRIS
Days on the market
0102030405060708090100110120130140150
January-03 July-03 January-04 July-04 January-05 July-05 January-06 July-06 January-07 July-07Montgomery County Fairfax County Loudoun County

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