Despite a statewide decline, Washington County home sales and prices rose in October compared to the same month a year ago.
“This market continues to show that it can move quickly, and demand is relatively high for our region,” wrote on Tuesday Craig Harshman, broker and owner of Hagerstown Management Corp. and President 2021 of Pen-Mar Realtors.
“We are seeing this across the board with the speed at which homes are selling, even at higher prices compared to previous years. We remain optimistic that we will have a strong housing market for the foreseeable future to l ‘vacation is approaching. “
Washington County reverses statewide trend
Statewide, home sales fell 10.4% in October from the same month a year ago, according to a report released Monday by Maryland Realtors. Sales fell in 20 of Maryland’s 24 jurisdictions.
But in Washington County, sales rose 1%, from 196 to 198.
The average price of homes in Washington County rose 7.2%, from $ 267,737 to $ 286,891. And the median price jumped 8.1%, from $ 245,000 to $ 264,950. The median price is the midpoint, with half of the homes selling less and half selling or more.
The number of pending sales increased from 191 to 223.
Homes spent a median time of 13 days on the market, the same as in October 2020.
Maryland prices are also increasing
Despite the decline in sales statewide, the average price rose 7% to $ 431,461. The median price jumped 7.2% to $ 369,700.
While only four jurisdictions reported an increase in sales, 21 recorded an increase in average prices.
There are signs that point to an easing in the market, according to the Maryland Realtors report.
Prices are not rising as fast as they were earlier in 2021. The median number of days on the market – the number of days a home is put up for sale before it is sold – has risen to nine days in the past three months, up from eight last year.
“With fewer homes sold, this certainly provides opportunities for people who were unable to enter the market earlier this year,” said Craig Wolf, 2022 president of Maryland Realtors, in a press release.
“The number of new registrations in October 2021 was 9,944, a decrease of 13.2% from the figure of 11,451 last year. We still need more people who want to sell their homes.
Montgomery County had the most sales at 1,282. Somerset County had the least at 32 years.
Talbot County reported the highest average price, $ 732,171. Allegany County reported the lowest, $ 157,983.
Franklin County, Pennsylvania, sales
In Franklin County, Pa., October sales fell 14.1%, from 220 to 189.
But the average price jumped 6.9%, from $ 227,588 to $ 243,266, according to a report from Pen-Mar Realtors.
Meanwhile, the median price rose 8.3% from $ 205,350 to $ 220,400.
Franklin County measures the average number of days a home is on the market before it is sold. This number has increased from 49 to 30.
October Home Sales
The following statistics for some jurisdictions in Maryland list the number of homes sold in October and the average price, with the percentage change from the previous year:
Allegany County: 76 (up 2.7%); $ 157,983 (up 11.1%)
Carroll County: 246 (down 7.9%); $ 420,319 (up 3.6%)
Frederick County: 523 (down 1.9%); $ 443,472 (up 13.3%)
Garrett County: 66 (down 29.8%); $ 534,446 (up 9.3%)
Washington County: 198 (up 1%); $ 286,891 (up 7.2%)
Maryland: 8,665 (down 10.4%); $ 431,461 (up 7%)
Source: Maryland Realtors
Mike Lewis covers business, economics and other issues. Follow Mike on Twitter at MiLewis.
This article originally appeared on The Herald-Mail: Home sales on the rise in Washington County in October