Montgomery County Saw Increase in Completed Home Sales in August
Local sales volume increase was second to Fairfax City, Va.
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Montgomery County was one of two jurisdictions in the greater Washington region that saw an increase in August completed home sales from 2018 to 2019.
There were 1,218 sales in Montgomery County in August 2019, a 0.4% increase from August 2018, according to MarketStats by ShowingTime, based on the activity from the real estate listing service Bright MLS.
The only other jurisdiction among eight in the region that saw an increase between the two months was Fairfax City, which saw a 13.9% increase in sales. The Washington region’s 4,907 sales this past August were down 3.1% overall from last year’s 5,064.
Despite the decline in closed sales, the median August price of a home across the region reached its highest in August in the past 10 years at $465,000.
Montgomery County’s median home sales price was $475,000, which was a 7.2% increase from the previous August’s price.
Montgomery County was also one of four jurisdictions that experienced an increase in pending sales, with 1,130 in August 2019, an 8 percent increase from the previous August.
New home listings declined across the region by 6.8% from the previous August, which included declines in listings of condominiums, single-family homes and townhomes. Montgomery County’s 1,282 listings last month represented a 6.5 % decrease from the previous August.
Six of the eight jurisdictions across the region experienced decreases in new listings. The exceptions were Fairfax City and the District of Columbia.
The August inventory of active listings also declined across the region from the previous August, dropping 20%. Montgomery County’s 2,092 listings represented a 12.1% decrease from August 2018.
Dan Schere can be reached at Daniel.email@example.com