The reports are in for HoCo and MoCo, and it’s always interesting to look at them individually, and then see how they compare.  Here’s the important stuff:

Montgomery is still taking a harder hit than its neighbor to the north, with a larger decline in median sale price (5.7 percent, compared to 1.4% for HoCo).  But some people clearly think there are some deals in Montgomery, with volume picking up by a solid 11.9% over this time last year.  By comparison, Howard’s sales volume is up only 2 percent.

Days on market are down across the board, with Montgomery showing the biggest decline in DOM (a 17% drop in days on market to an average of 83).

Howard is getting a bit closer to asking price at the time of sale, 93.3% to Montgomery’s 91.5%.  This is consistent with the increase in volume; it appears that more sellers are making a deal in MoCo, and in this market, that means accepting a slightly lower price.

It’s still a buyer’s market out there, unless you’re a first time homebuyer looking at homes under $300,000.  With the $8,000 Federal Tax Credit, we’re seeing a spike in sales activity and many multiple offer situations in that price range.  Time is running out, so if you’re looking to score that tax credit, you should already be out house shopping!

Here are the actual numbers:

Howard County

Avg Sold Price – $389,375 – down 9.83%
Median Sold Price – $350,000 – down 1.41%
246 units sold – up slightly over last September, by 2%
Days on market – down 10% to 90 days average
Sellers are getting, on average, 93.3%, up from 91.9% of list price last September. over one full percent better.

Montgomery County

Avg Sold Price – $412,795 – down 9.88%
Median Sold Price – $330,000 – down 5.71%
859 units sold – way up from last September, by a solid 11.9%
Days on market – down 17% to 83 days average
Sellers are getting, on average, 91.5%, of list price, about the same as last September’s number of 91.3% of list.