If you’re ready to enter the spring home buying market in Rockville, now is certainly an ideal time to do so!
According to the latest market data, home sales have decreased year-over-year, as has the median sales price.
This means that the market is favoring home buyers getting a great deal on properties in Rockville. Continue reading to learn more!
What You Should Know About Rockville Real Estate Activity
Here’s an overview of the current state of the local housing market:
- Currently there are 289 homes for sale on the market, including 94 in some stage of the foreclosure process.
- Between December and March, the average price per square foot for homes was $289, down 1 percent from the same period last year.
- Meanwhile, the median sales price was $430,000 based on 231 home sales.
- Compared to a year ago, the median home sales price dropped 4.4 percent, or $20,000.
- And the number of home sales decreased 22.2 percent.
- How other communities stacked up when it came to median sales price:
- Bethesda: $750,000
- Chevy Chase: $922,500
- Potomac: $884,444
- Washington DC: $471,000
- Kensington: $445,000
- During the week ending on March 4, the average listing price for homes was $550,596, up 1 percent from the previous week.
- During that previous week, the average listing price was $545,000.
- Broken down specifically, the average listing price for a 1-bedroom home here was $222,630.
- The average listing price for a 2-bedroom home was $377,623.
- And the average listing price for 3- and 4- bedroom homes was $431,157 and $628,007.
- How other communities stacked up in terms of average listing price
- Bethesda: $1,717,483
- Chevy Chase: $1,612,888
- Potomac: $2,353,787
- Washington DC: $907,886
- Kensington: $760,227
It’s Time to Buy Your Next Rockville, MD Home
If you’re ready to take that next step toward owning your own Rockville, MD home, then please contact us at the Rozansky Group.
We would love the opportunity to assist you by answering any questions you might have as well as providing you with an exclusive look at featured listings on the market.
Until next time,
Brad