During February, the median sold price for a house in Montgomery County was $490,500, an increase of 3.3% when compared to February 2021.
The median sold price throughout the D.C. region was $560,620, an increase of 2.9% from February 2021, according to the Greater Capital Area Association of Realtors (GCAAR).
“If the February data is any indication, the spring market in our region should be a lively one for buyers, sellers and REALTORS® alike,” said 2022 GCAAR President Harrison Beacher.
There were 732 closed sales in February in the county, a 5.4% decrease from the previous month and a 16.6.9% decrease from February 2021. The average number of days a house was on the market in February was 26 in Montgomery County and 34 in the District.
Nationally, the median listing price was $392,000, which is an increase of 12.9% compared to last year.
In Montgomery County, there were 1,026 new listings on the market, which is greater than the number there were in both January 2022 and February 2021.