Montgomery County Home Prices Reach 10-Year High
The median price of a home that sold in Maryland’s Montgomery County in July was $466,000, 2.6% more than a year earlier, and the highest July level in the past 10 years.
The Greater Capital Area Association of Realtors notes a rise in sales as well, with closed sales up 8.1% from a year earlier, and pending sales or contracts signed, up 6.3%.
Like most of the rest of the Washington, D.C., region, there are fewer listings in Montgomery County than there were a year ago.
New listings were down almost 1% from last July, and total active listings in the county were down 9.3% from a year ago.
Sellers in Montgomery County are largely getting the prices they are asking, data show. The average contracted price in July was 98.4% of the original list price, and half of July sellers received at least 99.3% of the original asking prices.
The chart below, courtesy of the Greater Capital Area Association of Realtors, shows median July prices in Montgomery County over the past decade.
As part of Maryland Matters’ content sharing agreement with WTOP, we feature this article from Jeff Clabaugh. Click here for the WTOP News website.
Did someone forward this to you?
Get your own daily morning news roundup in your inbox. Free. Sign up here.