housing statistics MONTGOMERY COUNTY & DC Montgomery County Sales Market For the month of April, the combined (single-family and condo/ coop) sales market showed a strong performance compared to April of 2014. The total unit sales volume came in at 1,016 properties, up 17% from a year before. However, the average sold price came in at $514,000 -- down about 0.5% from last year. Nevertheless, the median price of $405,450 jumped 1.4% from a year ago. Although unit sales were up strongly, properties turned over more slowly than a year ago. Average days on the market totaled 56, up 12 days from the previous April.
April Single-Family Homes
For the first four months of 2015, Montgomery County year-todate settlements and contracts were up double-digits from a year ago. April year-to-date single-family settlements (2,312) came in almost 14% over the same period in 2014; and, year-to-date contracts (3,357) jumped over 15% from a year before. Moreover, the April monthly results were at least as impressive. Settlements (783) vaulted almost 21% compared to a year before; and, new contracts for the month (1,197) jumped up 13%.
4.4% from the 2014 yearly prices. These price slippage rates are slightly lower than earlier this year, so the market will appreciate with the sales season. We’ll know more after the summer sales period.
April Condominiums and Cooperatives
Similarly, April inventory was up double digits from a year before. In April 2014, single-family active listings totaled 2,127 homes. At the end of this April, 2,452 property listings were 15% above those of a year ago. Although total actives are up significantly so far, at the April contracts pace, there was just slightly over a 2-months’ supply. This is early in the year, but it seems we continue to have a long-term shortage of supply. While the unit sales pace has been up, we are continuing to see signs of price slippage from the yearly figures for 2014. In 2014, the average sales price was $576,205 and the median was $460,000. Through April, the average and median prices were $553,647 and $440,000, respectively. These are down 3.9% and
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CAPITAL AREA AREAREALTOR REALTOR® • May/Jun • May/June 2014 2015 ®
The April condominium and cooperative market has firmed up a bit from earlier in the year. For the first four months, there were 771 settled sales, and these were up 5.2% from a year ago. April settlements came in at 235-units, up 5.4% from last April. The picture for contracts was not quite as good, albeit improved over the earlier months of the year. April year-to-date contracts (974) rose 1.5% from a year before. But, the 305 new ones were up by only two contracts from a year ago. On the supply side, April condo/coop inventory continues to substantially exceed the levels of 2014. Condo/coop active listings (677) came in almost 27% above the level of a year before. And, monthly new listings (399) rose almost 10% above the April 2014 figure. Nevertheless, at the monthly contract pace there was only a 2.2-months’ supply of properties. Supply has responded to the strong markets of the last couple of years, but levels are still below historical averages.