The median price of a house or condo that sold in Montgomery County, Maryland, in August was $475,000, a 7.2% jump from a year ago. And, it was the highest median sales price in the past 10 years.
The Greater Capital Area Association of Realtors also said more potential buyers looking in Montgomery County found what they wanted last month.
The 1,130 pending sales, or contracts signed to buy, was up 8% from a year ago and beat the five-year August average by 1.9%.
Like elsewhere in the Washington region, the Montgomery County market continues to suffer from a lack of homes on the market for sale.
New listings in August were down 6.5% from a year ago and total active listings were down 12.1%
Sellers received an average 97.9% of their original list prices, with half of August sellers receiving at least 99%.
Below is a two-year snapshot of Montgomery County’s sales and prices, courtesy of MarketStats by ShowingTime: