Median sales price up slightly; new listings increase by 6.8 percent

April’s tally of 1,137 closed sales beat last year’s level by 1.8 percent and above the five-year April average by 8.4 percent. The 1,451 new pending sales marked a 1.7 percent rise from last April and fell below the five-year April average by 2.1 percent, or 31 contracts. There were 1,975 new listings added in April, 6.8 percent higher than last April’s mark. The 2,276 active listings dip far below last April’s active listing total 2,456 (-7.3%). The 2,276 active listings heading into May represent 2.2 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.3 months of supply last April. Half of the homes sold in April were on the market 10 days or less, one day slower than the median days-on-market (DOM) in April 2017. The $445,000 median in April was
2.3 percent higher than last April’s median of $435,000. Closed sales rose in the townhouse and condo/co-op segments while dipping in the detached segments.

Washington, DC – (May 11, 2018) – The following analysis of the Montgomery County, MD housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.