Montgomery County home prices reach 10-year high

FILE- In this Jan. 4, 2019, file photo a sign hangs outside a house for sale in Pittsburgh's Lawrenceville neighborhood. (AP Photo/Keith Srakocic, File)(AP/Keith Srakocic)
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 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 getting what the prices they are asking. 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.

chart of median home sales prices in Montgomery County
Here’s a look at median home prices in Maryland’s Montgomery County since 2010. (Courtesy Greater Capital Area Association of Realtors)

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Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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