Winter is here in the real estate industry. As usual, we see a downward trend when the cooler temperatures hit, and that’s no different for the month of November. While things have slowed down some, it hasn’t come to a full stop for us here in Rockville, MD. Here are the stats that we have for the month of November.
A Look at the Housing Market
Number of Homes Sold
While the number of homes sold went down, it was still relatively high for the time of year. There were 92 homes sold in November. This is rarely heard of once the winter months come around, so for the final total to be so close to 100 that is mind-blowing for some. There were 29 fewer sales than the month of October, which capped the month out at 121 homes sold for the city. The breakdown of the homes that were sold in Rockville, MD are in details as follows:
- There were 35 homes sold that were 3 bedroom homes. The average price for the three bedroom homes was $444,529
- There were 40 homes sold that were 4 bedroom homes. The average price for the four bedroom homes was $562,186
- There were 14 homes sold that were 5 bedroom homes. The average price for these homes was $647,029
- There was 1 home sold that was a 6 bedroom home. The average price for this category was $1,200,000
Average Sales Price
These homes were just what you would find in terms of how many bedrooms the homes had. There are stats that are also available for the month of November in other areas of the home. There were 7 homes sold in Homes in Rockville, MD that had a 1 car garage. The average price for these houses was $548,286. There were 25 homes sold that had 2 car garages in Rockville. The average price for these homes was $731,432. And there were 2 homes sold that had 3 car garages; the average price for these homes was $797,500.
A Look at the Market for Condos and Co-ops
When we took a look at the condos and co-ops that sold in Rockville, MD there were a total of 34 sold for the month of November. The break down for these are as follows:
There were 6 condos and co-ops that were 1 bedrooms that were sold. The average price for these homes was $217,166.
There were 22 condos and co-ops that were sold that were 2 bedroom condos. The average for these was $325,825.
There were 6 condos and co-ops that were 3 bedrooms that were sold; the average price for these was $373,000.
What This Means for Sellers
As stated before, there are fewer homes that are being sold right now in Rockville due to the time of year. It is normal for there to be a decrease in home sales during the cooler months. You may also notice a drop in the median sales price. As a seller, you should ask yourself a few questions. What is my reason for selling, and is now the best time for me to put my house on the market? Depending on what your answers are, you may want to wait to place your house on the market once this season is over. Don’t leave things to chance! Ask your real estate agent for their best advice before you decide.
What This Means for Buyers
If you are in the market to purchase a home or condo, this may be the best time for you to do so. Due to the price dropping because of the season, you may get the better deal in terms of the amount that you will be paying. You may also want to consider that there aren’t many people in the market for a home during this time of year, and you may have less competition trying to get the home of your dreams.
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Here’s the most recent home listings just added to the database in the average price range for Rockville. All homes here are priced at $444,529 or less.