The number of units sold has decreased by 1.1% year-to-date in DC, 3.9% in Northern Virginia, 3.9% in Montgomery County, 0.2% in Anne Arundel County, and 1.9% in PG County. (1/1/18-6/26/18 vs 1/1/19-6/26/19)
Across the DMV, the time homes were on the market before being sold, on average, increased year-to-date — from 31 to 40 days in DC, 32 to 33 days in Northern Virginia, 43 to 53 days in Montgomery County, 53 to 61 days Anne Arundel County, and 41 to 55 days in PG County.
(1/1/18-6/26/18 vs 1/1/19-6/26/19)
At the same time, the median price of sold homes decreased by 0.3% in DC, while increasing by 0.9% in Northern Virginia, 0.5% in Montgomery County, 2.1% in Anne Arundel County, and 7.7% PG County compared to the prior year. (May 2018 vs May 2019)
Market Update: Across the board, the number of homes sold throughout the DMV has decreased. In short, the demand for homes isn’t quite as great as a year ago, so there is more room for negotiation on the buyer side.
(Data courtesy of BrokerMetrics)
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