Home sales across the Mid-Atlantic region totaled 20,552 transactions in June, according to new data from Bright MLS. This represents a 3.2% decline from the previous month and a 10.4% drop from one year ago.
Although fewer homes were being sold, more properties were available for sale in June – 35,106 active listings, up 17.5% from one year ago. June marked the fourth month in a row with a greater inventory.
Also on the rise were home prices – the median sold price of $430,000 in June was another new record high for the Mid-Atlantic and a 5.4% increase over last year. Within the major markets, the Philadelphia metro area hit $400,000 for the first time in June while Baltimore also recorded a new record high with its median sold price of $412,500. The median sold price for the Washington, D.C. area was $640,000, up 6.7% year-over-year.
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