Why Some Montgomery County Homes Are Selling in 12 Days, and Others Are Sitting for Months

Here's the strangest number in July's data, the most recent full month we have: a home priced between $750,000 and $999,000 in Montgomery County is taking more than twice as long to sell as a home priced just above or below it.

That's not a fluke. It shows up clearly in the July numbers, and it says a lot about where buyers actually have money to spend right now. Let's look at the full picture.

How long homes are taking to sell, by price

This is the real story from July. Homes at different price points are selling at very different speeds.

• Under $250,000: 43 days
• $250,000 to $350,000: 21 days
• $350,000 to $500,000: 12 days
• $500,000 to $750,000: 12 days
• $750,000 to $999,000: 28 days
• $1 million to $2 million: 12 days
• $2 million and over: 22 days

A well-priced home between $350,000 and $750,000 is selling in under two weeks. So is a home between $1 million and $2 million. But a home priced just under $1 million is taking more than twice as long. And anything under $250,000 is sitting for six weeks or more.

That $750,000 to $999,000 range is the tricky one. It's too expensive for a lot of buyers, but not quite expensive enough to reach the buyers who move fast on luxury homes. If your home falls in that range, how you price it and market it matters more than almost anywhere else in the market right now.

There's no such thing as "the Montgomery County market." There's your price range, and it behaves differently than the one next to it.

The headline numbers

The typical home sold for $660,000 in Montgomery County in July. That's the same as last year.

But 939 homes sold, down from 978 a year ago. That's about 4% fewer sales.

Homes are also taking longer to sell overall. The typical home took 30 days to get an offer this July, up from 22 days last year. And it took 42 days from start to finish, including any breaks in between, up from 28 days last year. That's about 50% longer than last summer.

So prices are holding steady, but the market has clearly slowed down since last year. Same price, slower pace.

The number that should matter most to you

So far this year, 5,862 homes sold in Montgomery County. In that same time, 1,024 listings expired and another 565 got cancelled. That's 1,589 homes that went up for sale and came back off the market without selling.

Do the math. About 1 out of every 5 homes that finished their time on the market this year did not sell.

Here's the part I want you to really hear, because it's the whole reason I do this job the way I do. Those homes almost never failed because something was wrong with the house. They failed because of how they were priced, marketed, and presented.

The wrong price from day one. Weak photos. Missing details. No real plan.

The difference between selling and sitting is rarely the house itself. It's the plan behind it.

What's driving this

Buyers are still out there, but money is tight. That's pushing more buyers toward homes they can actually afford, and it's also drawing serious, ready-to-buy shoppers to the $1 million to $2 million range. The slow spots are homes priced just under $1 million, and homes at the very bottom of the market.

Supply and mortgage rates

Here's a look at what's on the market as of today, since this gives us a clue about where things are headed next. There are 2,427 homes for sale right now, up from 1,945 a year ago. That's almost 25% more homes on the market. At the current pace, it would take 2.6 months to sell everything for sale, up from 2.0 months last year. That still favors sellers, but it's loosening up.

New listings are up too. 1,335 homes hit the market in July, about 13% more than last July. That means more choices for buyers, and more competition for sellers.

Mortgage rates are holding in the mid to high 6s, and they haven't moved much. If you're waiting for the low rates from a few years ago to come back, you may be waiting a long time.

What this means for you

Here's the only question that really matters, and it has nothing to do with the news.

What does your life need over the next 12 months?

Growing family? Empty rooms you're still paying to heat? A job change? Retirement plans that don't work in your current house?

If the answer is nothing, stay put. I mean that. But if life is telling you it's time, the smartest move is to find out exactly where your home and your price range stand in this market. Not the county average. Yours.

Wondering what this means for your street or your building? Reach out and I'll pull the real numbers for you.