Median sold price in region was $535,000, a decrease of 2.7% from September 2020;average days on market in September: 22 days
The median sold price for residential properties for September was $535,000, representing a decrease of 8.6% compared to last month and a decrease of 2.7% from September 2020. The average days on market for units sold in September was 22 days,30% below the 5-year September average of 31 days.
Closed sales for the region totaled 1,945, representing a 15.1% decrease in closed sales when compared to September 2020.
In the District, closed sales were 672 (a23.1% decrease from the previous month), while the median sold price was $612,500, a 5.8% decrease from August and a 4.1% decrease from September 2020.
In Montgomery County, the median sold price was $510,000, down 8.1% from August 2021 and up 4.1% from September 2020. Closed sales were 1,273, representing an 10.2%decrease from the previous month and a 2% decrease from September 2020.
Average days on the market were 19 in Montgomery County and 28 in the District.
“The decrease in closed sales compared to September 2020, particularly in D.C., reflects the public’s shift in focus to reconnecting with each other in anticipation of the waning pandemic,” said 2021 GCAAR President Jan Brito. “But demand was still strong last month – in comparison to September 2019, this year was up 13%,” she said.
There was a 2.6% month-over-month increase in new contract activity with 2,200 New Pendings; a 5.3% month-over-month increase in All Pendings (new contracts + contracts carried over from August) to 2,665; and a 23.2% increase in supply to 3,680 active units.
“Despite the strong housing market, accessible and affordable homeownership for all remains a priority for GCAAR. We’re continuing our bi-annual webinar series in partnership with Capital Area Asset Builders (CAAB) to enable people who never imagined they could own a home to become homeowners,” said GCAAR CEO Edward R. Krauze.
The money management webinar series, which helps underprivileged populations get on the path toward homeownership, resumes this week with a focus on Montgomery County. It takes place Oct. 18-22 at 6 p.m. each evening; registration is still open.
You can access the housing market reports here:
The Greater Capital Area Association of REALTORS®, one of the largest local REALTOR® associations in the U.S., is the voice for REALTORS® in Washington, D.C. and Montgomery County, Maryland. Representing more than 10,000 real estate professionals in the greater capital area, GCAAR provides services vital to its members’ daily business needs and works with lawmakers to ensure public policy that encourages homeownership and supports the real estate industry. For more information, visit www.GCAAR.com.