Montgomery County Market Snapshot: December 2019

Your market snapshot

Across the DMV, the amount of time homes were on the market before being sold, on average, decreased year-to-date — from 31 to 23 days in Northern Virginia, 39 to 38 days in Montgomery County, and 48 to 46 days in Anne Arundel County, while staying the same in DC at 30 days, and in Prince George's County at 37 days. (1/1/18-11/21/18 vs 1/1/19-11/21/19) 

In addition, the median price of sold homes decreased by 0.1% in DC, but increased by 5.7% in Montgomery County, 9.6% in Prince George's County, 9.7% in Northern Virginia, and 4.5% in Anne Arundel County compared to the prior year. (October 2018 vs October 2019)

In parts of DC and Maryland, the number of homes sold has decreased year-to-date, while the amount of homes sold in Maryland has generally increased. Across the board, these homes have been selling faster than last year while prices have decreased, meaning that the supply for homes is higher than it was a year ago, and that there is more room for buyers to negotiate.

Data courtesy of Broker Metrics