September 26, 2019 at 2:12pm | Bob Myers
Residential housing prices made gains in August compared to the same period in 2018, according to housing statistics released by Maryland REALTORS®. Average home prices rose by 2.7 percent while the median price increased by 3.3 percent as compared to the same time in 2018.

"While sales and units saw respectable increases, months of inventory dropped slightly from 3.7 months of active inventory to just 3.0 months," said President MerryTobin. A 6 month to 6.5 month supply is considered a balanced market.

The Average Sale Price compared to Original List Price for August increased modestly from 97.0 percent to 97.1 percent in 2019.

Maryland monthly housing statistics are compiled by data as reported by 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.
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