The median sold price for a house in Montgomery County in January was $525,000 which is a decrease of 5.2% as compared in December of 2023.
On average, it took 30 days to sell a house, which is 6% longer than the previous month, according to the Greater Capital Area Association of Realtors (GCAAR). New listings increased by almost 64%.
456 homes were sold in January, which is a decrease of 24% as compared to the previous month, but the same number as compared with January 2023, according to GCAAR.
In Washington, D.C. area, the median sold price in January was $602,000, an increase of .4% in one month.
“January brought a surge in new listings in the District and Montgomery County,” said Christopher Suranna, 2024 GCAAR president.
“Although the additional listings won’t put much of a dent in the lack of inventory we’re currently experiencing, they’ll provide prospective homebuyers more options than they had at the end of 2023. More homes for sale, combined with the slight uptick in average days on the market, gives buyers a bit more time to research and compare properties without having to make a quick decision,” he said in a news release.
GCAAR represents 12,000 realtors in D.C. and Montgomery County.
