August Median Sales Price Reaches 10-Year High

The $475,000 median in August was 7.2 percent higher than last August’s median of $443,000 and represents the highest median sales price in the past 10 years. August’s tally of 1,218 closed sales was above last year’s level by .4 percent and above the five-year August average by 1.4 percent. The 1,130 new pending sales marked an 8.0 percent increase from last August and beat the five-year August average by 1.9 percent, or 21 contracts. There were 1,282 new listings added in August, 6.5 percent less than last August’s mark. The 2,092 active listings decreased from last August’s active listing total of 2,379 (-12.1%). There were 1,282 new listings added in August, 6.5 percent less than last August. The average sales price in August was $580,942, a 5.8 percent increase over the August 2018 average of $549,035. Closed sales increased in the detached home segment but declined in the townhome and condo/coop segments.

 

Washington, DC – (September 12, 2019) – The following analysis of the Montgomery County, MD housing market has beenprepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.