More listings and sales, but data may point to rocky road ahead

May 2015 was a decent month for Montgomery County MD home sales.  Closed transactions increased about 6% compared to the same time last year, and increased about 2% from 2013.  May’s contracts decreased about 25% year over year; while newly listed homes increased about 3% year over year.
Average home sale prices have decreased during May year over year (decreased about 3% from May 2014, and 4% from May 2013).

May is the typical “active” period for home buyers.  However, May 2015 absorption rate indicates lukewarm activity compared to recent years.

Sales data is inclusive of homes listed in MRIS. Home sales data compiled from local MLS, MRIS.com; Property information posted on this site is believed to be accurate, but should not be relied upon without verification.