The number of pending home sales in Montgomery County and active listings in October were lower than in the previous October, according to new data released this month.
A Greater Capital Area Association of Realtors (GCAAR) report shows that there were 1,233 new pending sales in October 2019, which was 14.5% lower than last October. This year’s total was lower than the five-year October average by about 94 contracts.
Additionally, active listings decreased from 2,507 in October 2018 to 2,252 in October 2019.
The monthly real estate report is based on data provided by the real estate listing service Bright MLS.
Despite the decrease in pending sales and active listings, the median sales price achieved a 10-year high of $440,000, according to the report. There were 1,041 closed sales, which was nearly 20% more than in October 2018.
In September, Montgomery County also reached a 10-year high for median sales prices. The median price for that month was $429,000.
Among single-family detached properties, closed sales were up 22.9%. Sales of single-family townhomes were up 37.9% from last October. Condominiums saw a 1.8% decrease in closed sales from last October.
Dan Schere can be reached at Daniel.firstname.lastname@example.org