November brought an increase in the number of homes sold to the suburban Maryland real estate market, according to The Long & Foster Market Minute reports. The Maryland suburbs include Charles, Frederick, Montgomery and Prince George’s counties. The Long & Foster Market Minute reports are based on data provided by Metropolitan Regional Information System and its member associations of Realtors and include residential real estate transactions within specific geographic regions, not just Long & Foster sales.

The number of homes sold increased in the suburban Maryland region in November when compared to the same month last year, with Frederick County experiencing an 18 percent increase. In Montgomery County, the number of homes sold rose by 10 percent, while Charles County experienced a 9 percent increase. In Prince George’s County, the number of homes sold rose by 3 percent.

Median sale prices rose in much of the suburban Maryland real estate market in November. Frederick County experienced the largest increase at 14 percent, and Charles County saw an increase of 9 percent. Prince George’s County experienced a 6 percent increase in median sale price, and in Montgomery County it declined by 1 percent.

Inventory declined throughout the suburban Maryland market in November, dropping by 31 percent in Prince George’s County and 24 percent in Charles and Montgomery counties. Frederick County experienced a 21 percent decline in active inventory.

Homes are continuing to sell at a steady pace throughout the region, with many selling in about two months or less on average. Prince George’s and Montgomery counties experienced the shortest days on market (DOM) average of 37 days and 47 days, respectively. In Frederick County, homes sold in about 49 days on average, while the DOM average in Charles County was 54 days.

“November was another good month for the United States economy, with consumer confidence hitting one of its highest numbers since 2007. In the Mid-Atlantic and Northeast housing market, we saw a number of positive trends as well, including in the suburban Maryland region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Although inventory is still sparse, many people are choosing to buy a home, taking advantage of mortgage rates while they remain low.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested. Information included in this report is based on data supplied by MRIS, which is not responsible for its accuracy. The reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate.