March Home Sales Reach Post-Recession Record in Montgomery County

As featured in Bethesda Magazine

More than 1,000 homes were sold last month

A total of 1,013 homes were sold in Montgomery County in March—the most in that month since the 2008 recession, according to statistics provided by the Greater Capital Area Association of Realtors.

The number is a 20 percent increase from the 841 homes sold in the county in March 2016. The homes sold last month for a median price of $410,000 and half the homes were on the market for 17 days or less, according to the Realtors’ group.

Home sales chart provided by the Greater Capital Area Association of Realtors.

Local real estate agent Jane Fairweather said she’s not surprised by the record sales. “We had a huge March,” she said. “It seemed like everyone was buying everything.”

She noted that The Fairweather Team listed about 30 homes in March and sold a third of them. She didn’t attribute the uptick to any one cause, but said there’s typically an annual rise in sales during the spring and that perhaps people were looking to buy as interest rates remain low.

Fairweather added that sales have slumped during the beginning of April.

“It seems like people are out of town and I think they are out of town for spring break,” Fairweather said.