Do you watch the news? All that you see about housing these days is how horrible the real estate market is. Why does everyone always focus on the negative? Oh yeah, ratings. They prey on the bads news; maybe in some weird way it makes us feel better about ourselves. However, what is happening in one neighborhood, in one city, in one state, does not represent what is happening across the country as a whole!
Montgomery County and the surrounding area have always been different than the rest of the country. We are very fortunate to live in an area that has a multitude of commerce to help sustain our towns and cities. Sure, we have lost some value, however, if you are looking to buy a home for .50 cents on the dollar, you are going to be hard pressed to find it.
To back up this information, our Multiple Listing System(MLS) has issued a Market History Report for both single family homes and condos. Now while our MLS stinks at sharing searchable data on active homes through an Internet Data Exchange, they are pretty awesome at compiling data.
There will be 13,780 homes sold today across the the entire US! In Montgomery County, there were 312 homes that sold in September 2011 with an average of just 92 days on the market. To find out what is happening in your neighborhood, just click here. Bearing that all of this data includes, foreclosures, short sales, relocations, etc., I would say we are doing pretty darn good!
So when someone starts to say how horrible the housing market is, just remind them, it could be worse. Montgomery County has, and always will be, resilient to drastic market declines. Of course, this is also somewhat dependent upon the great people that live here. So give yourself a pat on the back!