The number of units sold year-to-date has decreased by 0.2% in DC and 2.8% in Northern Virginia, while increasing by 0.3% in Montgomery County, 0.3% in Prince George's County, and 5.5% in Anne Arundel County. (1/1/18-10/25/18 vs 1/1/19-10/25/19)
Across the DMV, the time homes were on the market before being sold, on average, decreased year-to-date — from 31 to 23 days in Northern Virginia, 39 to 38 days in Montgomery County, and 48 to 46 days in Anne Arundel County, while staying the same in DC at 30 days, and in Prince George's County at 37 days. (1/1/18-10/25/18 vs 1/1/19-10/25/19)
At the same time, the median price of homes sold increased by 11.2% in DC, 4.2% in Montgomery County, 7.8% in Prince George's County, 6.1% in Northern Virginia, and 2.3% Anne Arundel County compared to the prior year. (September 2018 vs September 2019)
Market Update: For the most part, more homes have sold faster and at a higher price point throughout the DMV, signaling the arrival of a seller's market.
Data courtesy of Broker Metrics