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Rental statistics june 2013

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  • 1. Current Montgomery County Rental Statistics Data for May, 2013 Tim Knobloch, (240) 292-1040, TKnobloch@mris.com
  • 2. Current Montgomery County Statistics $1,900 $1,950 $2,000 $2,050 $2,100 $2,150 $2,200 $2,250 $2,300 $2,350 Average Rental Prices
  • 3. Current Montgomery County Statistics • The 12 month moving average rental price for individually owned single family, townhome and condo, as compiled from MRIS data, is $2,294. The average has increased for the past 2 months – after a 2 month decline. Compared to May 2012 the average rental price is up by $70; in May 2012 it was $2,224. The reason for the increase in rental prices is two-fold – it’s partly seasonal, as there is more demand in the spring; and it’s also because of the lack of supply in the real estate sales market. • The Days on the Market (DOM) for May was 34 days, a decrease of 10 days from the April numbers. The DOM should follow the rental season and continue to come down as we move into the spring and summer months. • The number of properties rented in May (449) was an increase over May 2012 (414). The number of properties rented in May 2013 resulted in the highest number of rental properties for May in the past 5 years. Year-to-date, 1850 properties have been rented. This is an increase of over 16% when you compare this number to the 1632 properties rented at the same time last year. A strong rental market should continue for 2013.