Local real estate leader optimistic that market will stay strong heading into the holidays

Despite a statewide drop, Washington County home sales and prices rose in October compared to the same month a year ago.

“This market keeps showing it can move homes quickly, and demand is relatively high for our area," Craig Harshman, broker and owner of Hagerstown Management Corp. and 2021 president of Pen-Mar Realtors, wrote in an email Tuesday.

"We’re seeing that across the board with how fast homes are selling, even at higher prices when compared to previous years. We remain optimistic that we’re going to have a strong housing market for the foreseeable future as we head into the holidays.”

Washington County bucks statewide trend

Statewide, home sales dropped by 10.4% in October compared to 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 grew 1%, from 196 to 198.

The average home price 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 middle point, with half of the homes selling for less and half selling or more.

The number of pending sales rose from 191 to 223.

Homes spent a median time of 13 days on the market, the same as in October 2020.

Maryland prices rise, too

Despite the drop in sales statewide, the average price rose 7%, reaching $431,461. The median price jumped 7.2%, to $369,700.

While only four jurisdictions reported an increase in sales, 21 had an increase in average prices.

There are signs that suggest an easing of the market, according to the Maryland Realtors report.

Prices are not rising as fast they were earlier in 2021. Median days on the market — the number of days a house is listed before it is sold — has grown to nine days over the last three months, versus eight last year.

“With fewer homes sold, it certainly provides opportunities for people who weren’t able to get into the market earlier this year,” Craig Wolf, 2022 president of Maryland Realtors, said in a news release.

“The number of new listings in October 2021 was 9,944, a 13.2% drop from last year’s figure of 11,451. We still need more people wanting to sell their homes.”

Montgomery County reported the most sales at 1,282. Somerset County had the fewest at 32.

Talbot County reported the highest average price, $732,171. Allegany County reported the lowest, $157,983.

Franklin County, Pa., 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 increased 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. That number fell from 49 to 30.

October home sales

The following statistics for selected Maryland jurisdictions lists the number of homes sold in October and the average price, with the percentage change from one year earlier:

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, the economy and other issues. Follow Mike on Twitter at MiLewis.