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MARCH MARYLAND HOME PRICES CONTINUED TO REMAIN STABLE

by Maryland REALTORS®


Home Sales in 2018 Chevy Chase

by Phyllis Wiesenfelder

We are pleased to be sending you our annual real estate report for 2018. We experienced another year of impressive home sale prices. Nearly 90% of the homes sold were over $1 million. The record home sale prices are a reflection of the appeal that draws people to our community: a premium close-in location, award–winning schools, a medley of architectural styles, proximity to Metro and convenience to fine dining, shopping and entertainment. If you would like complimentary information, such as help with a property tax appeal, or if you are thinking about a home sale or purchase, please give us a call. We are longtime neighborhood residents and at all times put our knowledge and our three decades of experience to work for you.



 

 

 

September 2018 Washington, DC Market Trends Report

by GCAAR

Median sales price second highest September level on record
Washington, DC – (October 15, 2018) – The following analysis of the Washington, DC 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.

September’s median sales price was $525,000, up slightly from last year’s median and ranks as the second highest September level on record. The 588 September sales represented a 3.8 percent decrease versus last year and below the September five-year average of 625. There was a 6.1 percent drop in contract activity compared to last September. The 809 overall new pending sales topped the five-year September average by 0.9 percent. Closed sales were down in all three segments compared to last September. Half the homes sold in September were on the market for 15 days or less and the competition among buyers kept the median percent of asking price at 100 percent.

September 2018 Montgomery County Market Trends Report

by GCAAR

Median sales slightly higher than 2017; homes spend less days on market
Washington, DC – (October 15, 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 multiplelisting data by MarketStats by ShowingTime.

September’s tally of 843 closed sales dipped below last year’s level by 10.9 percent and below the five-year September average by 8.4 percent. The 925 new pending sales marked a 15.8 percent dip from last September and fell below the five-year September average by 12.5 percent, or 132 contracts. There were 1,449 new listings added in September, 9.6 percent less than last September’s mark. The 2,555 active listings dip far below last September’s active listing total 2,770 (-7.8%). Half of the homes sold in September were on the market 20 days or less, four days quicker than the median DOM in September 2017. The $420,000 median in September was 2.4 percent higher than last September’smedian of $410,000. The average sales price in September was $498,978, a 2.2 percent increase over the September
2017 average of $488,200. Closed sales fell in all three segments of the market. 

July 2018 Montgomery County Market Trends Report

by GCAAR

Median sales price reaches highest July level since 2007 Washington, DC – (August 13, 2018) 

Overview
July’s tally of 1,204 closed sales beat last year’s level by 3.8 percent and above the five-year July average by 1.4 percent. The 1,207 new pending sales marked a 4.4 percent bump from last July and fell just below the five-year July average by .8 percent, or 10 contracts. There were 1,453 new listings added in July, 2.7 percent more than last July’s mark. The 2,408 active listings dipped significantly below last July’s active listing total 2,668 (-9.7%). The 2,408 active listings heading into August represent 2.4 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.6 months of supply last July. Half of the homes sold in July were on the market 13 days or less, three days quicker than the median DOM in July 2017. The $454,000 median in July was 6.0 percent higher than last July’s median of $428,500 and is at the highest July level since 2007. Closed sales rose in all three segments in July.  

The following analysis of the Montgomery County, MD housing market hasbeen prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

June 2018 Montgomery County Market Trends Report

by Phyllis Wiesenfelder

Median sales price reaches highest June level on record

June’s tally of 1,414 closed sales dipped below last year’s level by 6.9 percent and below the five-year June average by .7 percent. The 1,344 new pending sales marked a 1.5 percent bump from last June and was just above the fiveyear June average by 1.7 percent, or 23 contracts. There were 1,721 new listings added in June, 3.4 percent less than last June’s mark. The 2,497 active listings dip far below last June’s active listing total 2,760 (-9.5%). The 2,497 active listings heading into July represent 2.5 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.6 months of supply last June. Half of the homes sold in June were on the market 11 days or less, two days quicker than the median DOM in June 2017. The $477,750 median in June was 8.6 percent higher than last June’s median of $440,000 and represents the highest June level on record. Closed sales rose
in the townhouse segment while dipping in the detached and condo/co-op segments.

May 2018 Montgomery County Market Trends Report

by Phyllis Wiesenfelder

Median sales price reaches highest May level on record

May’s tally of 1,314 closed sales beat last May’s level (1,246) and the five-year May average (1,245) by 5.5 percent. This is the highest May level on record (since 1997). The 1,518 new pending sales marked an 1.2 percent dip from last May and beat the five-year May average by 1.1 percent, or 16 contracts. There were 1,901 new listings added in May, 1.6 percent less than last May’s mark. The active listings dipped below last May’s active listing total of 2,567 (-6.7%). The 2,394 active listings heading into June represent 2.3 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.4 months of supply last May. Half of the homes sold in May were on the market nine days or less, two days quicker than the median DOM in May 2017. The $475,000 median in May was 6.4 percent higher than last May’s median of $446,500. Closed sales rose in all three segments.

Washington, DC – (June 13, 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.

April 2018 Montgomery County Market Trends Report

by Phyllis Wiesenfelder

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.

Existing-Home Sales Have Banner 2016, Hitting Decade High

by RISMedia

Existing-home sales had a banner 2016, amounting to 5.45 million—an increase from 5.25 million in 2015 and a decade-high from 6.48 million in 2006, according to the National Association of REALTORS® (NAR).  Click Here to Read More

Article From RISMedia

Market Trends November 2016

by GCAAR

November 2016 Montgomery County Market Trends Report Home sales up nearly 15 percent over last year and exceed 5 year average 


Montgomery County
November’s tally of 951 closed sales topped last year’s level by 14.9 percent and exceeded the five-year November average by 16.4 percent. The 950 new pending sales marked a 7.5 percent change from last November and beat the five-year November average by 1.8 percent, or 17 contracts. There were 904 new listings added in November, 1.2 percent less than last November’s mark. The 2,314 active listings dip far below last November’s active listing total 2,829 (-18.2%). The 2,314 active listings heading into November represent 2.2 months of supply given the average
sales pace over the last twelve months, favoring the seller more than the 2.9 months of supply last November. Half of the homes sold in November were on the market 28 days or less, 2 days quicker than the median DOM in November 2015. The average DOM was slightly higher at 59 days. The $397,000 median in November was 1.1
percent lower than last November’s median of $401,450. The average sales price in November was $487,387, a 4.6 percent decrease from the November 2015 average of $511,053. Closed sales rose in all three segments of the market.

November 2016 Washington, DC Market Trends Report Most homes sold since 2005 as prices reach record November highs

Washington, DC
November’s median sales price was $549,000, nearly flat with last year’s median of $548,000 and the highest November level on record. The 671 November sales represented a 5.5 percent increase versus last year and above the November 5-year average of 594. Even with the median sales price at record highs, supply is scarce with only 1.9 months of supply on hand. There was a 7.8 percent dip in contract activity compared to last November. New listing activity increased compared to last November in every segment. Half the homes sold in November were on the market for 14 days or less and the competition among buyers kept the median percent of asking price at 99.9 percent.

Washington, DC - (December 13, 2016) - The following analysis of the Montgomery County, MD and Washington DC housing markets has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of MRIS multiple listing data by MarketStats by ShowingTime.

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Photo of Phyllis Wiesenfelder Real Estate
Phyllis Wiesenfelder
Long & Foster Real Estate, Inc.
4650 East West Highway
Bethesda MD 20814
Direct: (301)215-6915
Mobile: (301)529-3896
Fax: Office: 301-907-7600