Montgomery Co. housing market pops

The Montgomery County, Maryland, housing market hit several milestones in what was a busy October for buyers and sellers.

There were more than 1,000 home sales in Montgomery County that closed last month. That is 19.2% more than October 2018, and the highest October level in 10 years, according to the Greater Capital Area Association of Realtors.

The median price of what sold last month was $439,850, the highest in a decade. Half of the homes in Montgomery County that sold in October were on the market 18 days or less, selling an average of two days faster than a year ago.

The number of active listings in Montgomery County was down 10.2% from a year ago, but the number of new listings coming on the market rose 5.2%.

Sellers got, on average, 97.7% of original list price, up a fraction from a year ago. Half of October sellers got at least 99% of their original asking price.

By home type, the median selling price for a single-family detached home was $582,500, up 1.2% from a year ago. Town houses that sold averaged $357,450, up 2.7%.

The median price of a condo in Montgomery County that sold last month was $240,000, down 1.2% from a year ago.

Montgomery County home sales.

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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