April 2013 Home Sales reveal weaknesses

by Dan Krell © 2013
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DanKrell.com

It is becoming increasingly apparent that 2010 is the benchmark year for the post crisis housing market to beat.  Montgomery County MD April’s housing stats reveal weaknesses and possibly limitations.

Montgomery County MD Home Sales

Montgomery County MD Home Sales

Montgomery County MD home sales volume increased 9% year over year, and increased 11% compared same time during 2011; but decreased -8% compared to same time 2010.  Year to date home sales through April increased 7% compared to the same period in 2012 and +6% compared to the same period in 2011; but decreased -3% compared the same period in 2010.

Montgomery County MD Absorption Rate

Montgomery County MD Absorption Rate

Inventory absorption rate in Montgomery County MD during April 2013 was 55%, which is lower than the 61% absorption rate of April 2012, but higher than the 50% of April 2011, and 46% of April 2010.

Montgomery County MD Year to Date Home Sales

Montgomery County MD Year to Date Home Sales

Montgomery County MD homes under contract increased 22% year over year, and increased 30% compared to same time 2011; but decreased -8% compared to same time 2010.  Year to date homes under contract increased compared to the same period in 2012 and 2011 (+12% and +20%); but was marginal compared the same period in 2010.

Montgomery County MD Average Home Sale Price

Montgomery County MD Average Home Sale Price

The average home sale price of homes that sold during April in Montgomery County MD increased 5% year over year, and increased 10% compared to same period 2011, and 13% compared to same period 2010.

Home listings in Montgomery County MD increased 18% year over year, and +3% compared to same time 2012; however, home listings decreased -24% compared to same time 2010.  Homes listed year to date through April increased 1% compared to the same period in 2012; but decreased -4% compared to the same period in 2011, and decreased -23% compared to the same period in 2010.

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.

 

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One Response to April 2013 Home Sales reveal weaknesses

  1. Pingback: A balanced real estate market emerges despite fears of a housing bubble | Real Estate News and Commentary

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