Now is when the housing market usually picks up, but nationally inventory remains tight; in December inventory was down 4% but sales were up 8% according to the National Association of Realtors. In Montgomery County, inventory is even lower, down almost 13% from last January. In the height of the market it should take about 4 months to exhaust supply; currently it would take 2.
New listings are down 8% from last year, at 874 with compared to the 5 year average of 904.
Active listings are down about 2% compared to last year at 2,100, but up from the 5 year average of 1,961.
The good news is, median sale prices are up slightly and days on the market held steady compared to last year, so it is not a bad time to try to sell your house. The spring market is about to heat up so if you are interested in getting your house sold by the summer, now is the time to start!
