After a strong rise, the Rockville real estate market is seeing a dip in both home sales and home prices. Inventory continues to decline. Here’s a look at December’s numbers.
In the month of December, the number of homes sold in Rockville remained below 100, with 83 properties sold. Though sales remain slow, winter is typically the slowest time of year for real estate sales. As we get into spring, expect to see sales ramp up.
Average Sales Price
The average sales price for homes in December was $545,115. This number shows a decrease from last month’s average price of $574,707. If we look at the sales price trend over the last several months, we can see that prices continue to fluctuate.
The number of garages present makes a difference to many buyers. In December, there were 16 homes sold with one-car garages. The average sale price was $536,210. There were 28 homes sold with two-car garages. The average sale price was $688,627.
Number of Homes Sold
The number of bedrooms in a home continues to be an important factor when it comes to sale prices and demand. In December, the desire for four-bedroom homes remained consistent with previous months.
- There were 26 three-bedroom homes sold with an average sale price of $489,948.
- There were 43 four-bedroom homes sold with an average sale price of $548,347.
- There were 9 five-bedroom homes sold with an average sale price of $636,878.
- There were 2 six-bedroom homes sold with an average sale price of $1,030,000.
The demand for homes continues to impact inventory. As of January 1st, there were 121 active homes for sale in Rockville. That’s significantly less than the 188 homes in inventory several months ago.
A Look at the Condo Market
In December, 31 condos were sold at an average sales price of $325,777. The most popular condos had two bedrooms, with 13 sold at an average of $289,931. One-bedroom and three-bedroom condos tied with seven units sold each. One-bedroom condos sold for an average sale price of $188,643. Three-bedroom condos sold for an average sale price of $510,786.
What This Means for Rockville Sellers
It’s not unusual to see a dip in home sales during the winter, but the numbers show there is still plenty of demand for houses. Because there’s also less inventory during the winter, your home may command a higher price.
What This Means for Rockville Buyers
Inventory continues to drop to new lows this month, but that’s not too surprising considering we’re in the heart of winter. As more homes are put on the market in the spring, however, more buyers will flood the market as well, which could cause home prices to increase. The winter season is often an opportune time to buy a house at an affordable price before the busy spring buying season.
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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 $545,115. or less.