Median Sales Price Reaches 10-Year High; Active Listings Decline

 

The $488,123 median in June was 2.2 percent higher than last June’s median of $477,750 and is the highest June median sales price for the past 10 years. The average sales price in June was $584,401, a 1.6 percent increase over the June 2018 average of $575,509. June’s tally of 1,306 closed sales fell below last year’s level by 7.6 percent and below the five-year June average by 8.8 percent. The 1,412 new pending sales marked a 5.1 percent bump from last June and beat the five-year June average by 3.5 percent, or 48 contracts. There were 1,686 new listings added in June, 2.0 percent fewer than last June’s mark. The 2,419 active listings decreased from last June’s active listing total of 2,497 (-3.1%). The 2,419 active listings heading into June represent 2.6 months of supply given the average sales pace over
the last twelve months, favoring the seller slightly more than the 2.5 months of supply last June. Closed sales declined in all three segments.

Washington, DC – (July 12, 2019) – 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.