March 15, 2019 | Bob Myers
Residential home prices remained stable in February compared  to the same period in 2018, according to housing statistics released by  Maryland REALTORS┬«. Average home prices rose by 2.9 percent while median  prices rose by 3.3 percent as compared to the same time in 2018. "The average residential home and median sale prices both  remained stable in February", said Maryland REALTORS┬« President Merry  Tobin.

"The months of available inventory also increased to  4.2 months in February," continued Tobin. A 6 month to 6.5 month supply  is considered to be a balanced market. While average and median prices increased, February saw a decrease in units sold by 7  percent.  

The February statewide median sales price was $314,105  compared to $305,318 in 2018. This represents an increase of 2.9  percent.

Pending units decreased to 7,134 from 7,199 compared to the same time in 2018. The Average Sale Price compared to Original List Price for  February decreased slightly from 95.4 percent in to 95.3 percent in  2019.

Maryland monthly housing statistics are compiled by data as reported by MRIS/Bright MLS. For  the purposes of this report, "units" are defined as the closed sales  and "pending units" are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the  corresponding month.

*Months  of inventory based on current active inventory and monthly sales for  the corresponding month; Data are revised on a regular basis. Readers of  these reports should note that older reports have not been adjusted to  reflect these revised data. This report, however, contains the latest  reliable data to date.

Please consider The Myers Team your resource for all things real estate.   We have over 30 years of real estate experience, specializing in the  Montgomery County area. If you are refinancing, want a recommendation,  need a service provider or just have a home related question, please give me a call at 301-910-9910 or  email me at


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