"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.
NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT.
*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 bobmyersteam@gmail.com.
