The number of units sold year-to-date has increased by 2.5% in DC, 6.9% in Prince George's County, 4.7% in Montgomery County, and 6.7% in Anne Arundel County, while decreasing by 1.1% in Northern Virginia. (1/1/18-12/19/18 vs 1/1/19-12/19/19)
Across the DMV, the time homes were on the market before being sold, on average, decreased year-to-date — from 32 to 23 days in Northern Virginia, 40 to 38 days in Montgomery County, and 48 to 47 days Anne Arundel County, while staying the same in DC at 30 days, and in Prince George's County at 37 days. (1/1/18-12/19/18 vs 1/1/19-12/19/19)
At the same time, the median price of homes sold increased by 5.8% in DC, 5.6% in Montgomery County, 8.6% in Prince George's County, and 3.9% in Northern Virginia, while decreasing by 0.8% in Anne Arundel County compared to the prior year. (November 2018 vs November 2019)
In parts of DC and Maryland, the number of homes sold has increased year-to-date, while the number of homes sold in Northern Virginia has generally decreased. Across the board, these homes have been selling faster and for more money, meaning the demand for homes is higher than it was a year ago, and that there is more room for negotiation on the seller side.
Data courtesy of Broker Metrics
