In the DC metropolitan market, there’s a lot of talk about an inventory shortage. Is that really the case? How do things compare to the mid-COVID-19 summer market? Let’s find out! Here is how the Montgomery County, MD real estate market did this July compared to last July:
- Almost 10% more homes sold in 2021 than 2020
- The average sales price increased by 10.4% (median increased by 8.2%)
- 10 more homes went under contract last year
- There were 163 more homes available July 2020 than in July 2021
- There was 1/2 month’s less worth of inventory in July 2021
- Homes sold 1 day faster in July 2021 compared to July 2020
- 377 more new homes came on the market in July 2021 compared to July 2020
Wondering about other counties in Maryland like Frederick, Howard, Anne Arundel, Prince Georges, etc?
Click here to see the full chart release by the Maryland Association of REALTORS