Real Estate
How Much Is Your Single Family Home in Rockville MD Worth? Find Out Now
Don't you wonder what your home in Rockville MD worth? Is its value up or down? Find out what the market stats said in September 2016
Rockville Maryland values are rockin'! In Rockville, MD, the median sold price for Detached properties for September was $535,000, representing an increase of 20.2% compared to last month and an increase of 14.1% from September 2015.
The average days on market for units sold in September was 40 days, 18% below the 5-year September average of 49 days. There was a 5% month over month decrease in new contract activity with 76
New Pendings; a 3.8% MoM increase in All Pendings (new contracts + contracts carried over from August) to 110; and a 2% increase in supply to 155 active units.
This activity resulted in a Contract Ratio of 0.71 pendings per active listing, up from 0.70 in August and an increase from 0.60 in September 2015. The Contract Ratio is 4% lower than the 5-year September average of 0.74. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.
Find out what's happening in Rockvillefor free with the latest updates from Patch.
There are a number of sites on the internet that will give you 'estimates' for what your home will sell for. These sites use public records and usually some kind of algorithm to try to produce a value for your home. These sites also publicly state their 'error rates'. That means they aren't correct, they are simply an estimate based on incomplete data. To find out more about why Zillow estimates, for example, are so often wrong, just click here!
The Lise Howe Group can do a free comparative market analysis of your home or condo in Rockville and let you know what could expect to get in today's market if you are considering selling. Our valuation is based on up to the day data for homes that have recently sold in the area. Our valuation is not based on a formula that relies on public records which can take months to update. Please visit our website in order to get your free property evaluation for your Rockville home or condo.