The Market Wrap-Up For August

Let’s take at look at the numbers for single-family homes and condos that sold between $100,000 and $5,000,000 in August in metro Washington, DC and see how they compare to a year ago.

Washington, DC

  • 602 homes sold, up from 501 in August 2008
  • The median sales price was $365,000, down from $395,000 in August 2008
  • The average days on market for homes sold was 85 days, up from 80 days in August 2008
  • On average, homes sold at 92.49% of the list price, in August 2008 it was 92.33%

Fairfax County, Fairfax City, Arlington County, Alexandria City & Falls Church City, VA

  • 1,813 homes sold, up from 1,812 in August 2008
  • The median sales price was $395,000, up from $389,000 in August 2008
  • The average days on market for homes sold was 63 days, down from 87 days in August 2008
  • On average, homes sold at 94.65% of the list price, in August 2008 it was 92.88%

Montgomery County

  • 967 homes sold, up from 787 in August 2008
  • The median sales price was $355,000, down from $408,000 in August 2008
  • The average days on market for homes sold was 85 days, down from 99 days in August 2008
  • On average, homes sold at 91.41% of the list price, in August 2008 it was 91.22%

Prince George’s County

  • 638 homes sold, up from 430 in August 2008
  • The median sales price was $216,500, down from $280,000 in August 2008
  • The average days on market for homes sold was 133 days, up from 132 days in August 2008
  • On average, homes sold at 88.33% of the list price, in August 2008 it was 89.89%

Greater Baltimore: Anne Arundel, Baltimore City & County, Carroll, Harford, Howard

  • 2,144 homes sold, up from 2,047 in August 2008
  • The median sales price was $250,000, down from $275,000 in August 2008
  • The average days on market for homes sold was 120 days, up from 115 days in August 2008
  • On average, homes sold at 90.65% of the list price, in August 2008 it was 91.41%

We pulled the numbers in this post from MRIS.

Dig Deeper Into the Trends

These numbers county-level trends. To see what’s happening in your neighborhood, check out our stats & trends pages.

What Other People Said

Keith’s posts at DC Home and Condo Prices are always insightful and a great place for people looking for data-rich analyses of the market. Check out his preliminary analysis of the August numbers.

Check out Annys Shin’s first-hand account in the Washington Post of selling her Petworth rowhouse and buying in Silver Spring.

What trends did you see in August?

  • homebuyer

    Could someone please explain how this post (which shows discounts to list price in the 6-10% range) jives with the post from 9/3 that says the area wide discount to list is 2.9%? I’m sure the discount didn’t just double over the course of a month!