It’s been an exciting year for homes in the Rockville area as average listings saw six-figure increases in 2013 that only continued to skyrocket in value through early August. Since then, the Rockville home market has cooled off a bit, but still remains at levels that would make any area home owner looking to sell quite happy. But just as importantly in favor of buyers, the market has shown signs of stability recently that could provide much more incentive for those looking to find their ideal piece of Rockville real estate. A recent analytics report delves further into these trends.
Rockville Home Values as of October 4th, 2013
An October 4th Rockville home report from California-based real estate analytics tracker Altos Research saw the median list price for Rockville homes at $629,281. This number is for the seven-day average for the area; a figure that often tends to be erratic from week to week in any market. In Rockville, however, this seven-day average has stayed remarkably consistent since the middle of August, with home prices varying negligibly from week-to-week, and drifting down only by a few thousand dollars over that time period. The same can be said for the usually more-stable 90-day average, which has practically flatlined at $635,000 since early August. In a market where values are this consistent, market trends become more predictable—something that both Rockville home buyers and sellers can take comfort in.
Rockville Home Inventory Levels and Days on Market
As Rockville home values have stabilized, local inventory levels have remained relatively consistent, as well. Altos’ figure of 141 Rockville properties on the market as of October 4th was up from 130 in an August 9th report, but that shift of only 11 properties over two months’ time is one that borders on negligible. The 79 average days on market (DOM) is also closely on par with where DOM rates have been since early August.
Interested in hearing more about Rockville homes? Our team of Rockville real estate professionals would love to assist you in your quest of finding the perfect Rockville home to suit your needs. Please contact us today.