Today we're going to jump in,
& start 2023 off with a bang! We're talking about market stats in all of Montgomery County. For those who don't know, I really dig in and drill down to Silver Spring, Maryland, and Germantown in particular. Stay tuned. All the market updates and market stats that you need to start 2023 the right way if you're looking to buy or sell property.
All right, we're just going to jump right in. Montgomery County market stats, RE/MAX Realty Center charts, all this stuff on a weekly basis, so I'm just going to give you the rundown. Basically, I'm going to talk about what's going on currently in the market to start 2023. If you're looking to buy or sell, this is the info that you need to know.
When it comes to new listings in Montgomery County, there's 127; that's up 15 from last week. Yes, inventory is low and there's not a whole lot available. As you see, 127 for a county of this size is not a whole lot of... it's not a whole lot of inventory. When it comes to new contracts, that's up at up at 75, which is down five from the previous week. I know once you get into the new year around the holidays and stuff like that, everything's a little bit different; things are slower. People are more family centered, family oriented, and not as many people are thinking about buying real estate around the holidays, beginning of the new year, all that stuff, so those numbers are a little low for right now, and that's normal.
Active listings are 723 that are active in the county. That's down 83 from the previous week. We also look at the properties that have been on the market 14 plus days. With that, that number is sitting at 650. That is down 56 from the previous week. I don't know, call it what you want, the holidays and all that other good stuff. As we see here, a lot of things have taken a minor dip in the last week, but that one week does just happen to be right around the holidays and the start of the new year. I would anticipate moving forward that those numbers are only going to increase as we get closer and closer to the spring market.
Now, taking all those numbers in, let's really drill down to, as I said before, Germantown and Silver Spring. In Germantown, the median home prices are sitting just below $400,000. We're looking at $399,005. The active listings are sitting at 42. There have been 10 new listings in the last five days. The median days on market has been at 17. Now, let's take that and compare that to Silver Spring. Median prices in Silver Spring are over $432,000. There are 206 active listings, 25 new listings in the last five days, and the median days on market is 41. Long story short, there's more inventory down in Silver Spring than there is in Germantown.
With that, there is more new listings that have hit the market in the last five days, and Silver Spring has a much higher days on market than Germantown does, so we're talking 41 as compared to the 17. Just to take the numbers to other local areas right here in Montgomery County, Rockville, Maryland, the median prices are sitting up over $602,000. There's 106 active listings, 12 new listings in the last five days. Median days on market is 37. Now, compare that to Gaithersburg, Maryland. Median prices are sitting at $594,000. There are 60 active listings on the market, 12 new listings in the last five days, median days on market, 31.
What about little old Clarksburg, home of RE/MAX Realty Center? Median price just under $680,000. I know some people look at that and they're like, "Whoa, that's insane for Clarksburg." That's what it is right now. 51 active listings. There's five new listings in the last five days. Median days on market is sitting at 43. We can get really crazy here with the numbers and look at Washington, DC. Washington, DC is sitting at about $650,000 when it comes to that median price point. There's over 1,500 active listings right now, 190 new listings in the last five days. Median days on market is sitting at 55.
Hopefully, this information has been helpful. If you have questions about the real estate market, if you're thinking about buying or selling or whatever your case may be, make sure you reach out to an agent (me 👍🏾). This market has been... I don't want to say it's been crazy, but it has fluctuated quite a bit in the last three to six months. Make sure that you have somebody that's on top of it, they know what they're doing, they got their eye on things, they're keeping their finger on the pulse, and they're seeing what's happening for real in real time in real estate in your market. I'm out.