The median price for a house sold in Montgomery County in May was $620,000, which is a 5.6% increase from the previous month and a 12.7% rise as compared to May of 2021.
There were 1,575 houses new listed for sale last month, which is about a 15% decrease from May of 2021, according to the Greater Capital Area Association of Realtors (GCARR). Houses here sold in 12 days on average and 23 days in the District, according to GCAAR.
In the Washington, D.C, area, the median sold price was $626,000.
In November of 2021, the median sold price for a residential property in Montgomery County was $525,000.
“While the data shows Montgomery County is still extremely competitive, especially in the higher price points, simultaneously, it appears the housing market in D.C. is starting to soften just a bit,” said 2022 GCAAR President Harrison Beacher in a news release.