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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. 

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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