Median sales price up slightly as median days on market quickens 

The $428,500 median in July was .8 percent higher than last July’s median of $425,000. Closed sales rose in the townhouse segment while dipping in the detached and condo/co-op segments. Half of the homes sold in July were on the market 16 days or less, six days quicker than the median DOM in July 2016. July’s tally of 1,160 closed sales dipped below last year’s level by 7.2 percent and below the five-year July average by 3.5 percent. The 1,156 new pending sales marked an 8.0 percent dip from last July and fell below the five-year July average by 4.3 percent, or 52 contracts. There were 1,415 new listings added in July, .2 percent less than last July’s mark. The 2,668 active listings dip far below last July’s active listing total 2,882 (-7.4%). The 2,668 active listings heading into August represent 2.6 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.8 months of supply last July. 

Washington, DC – (August 14, 2017) – 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.