Closed home sales and new pending sales were up in Montgomery County in November compared to the previous year, according to new data.
A Greater Capital Area Association of Realtors (GCAAR) report released this month shows 930 closed home sales last month, a 15.5% rise from last November’s 805. There were also 985 pending sales last month — 17% more than last year and 3.8% more than the five-year November average.
Closed sales increased in all three housing categories from the previous November. Single-family detached homes increased 14.4%, single family attached townhouses were up 23.8% and condominiums rose 10.4%.
However, closed sales fell from last month in all three categories.
November’s median sales price of $465,000 in Montgomery County also increased from last year’s $453,000 and is the highest in the last 10 years, according to the report.
Montgomery County’s November sales growth mirrored the District of Columbia, where closed sales increased 17.6% from last November and pending sales rose 7.6% above the five-year November average.
There were 1,842 active listings in Montgomery County in November, down 13.7 percent from last November’s 2,135. The report notes that half of homes sold in November were on the market for no more than 20 days.
The GCAAR report is based on sales data from the real estate listing service Bright MLS.
Dan Schere can be reached at Daniel.email@example.com