The housing market in Washington County remained stable in December, with the median home listing price holding steady at 9,900. Compared to the previous year, there was an 8.5% decrease from the December 2023 median of 2,445. Despite this drop, homes listed for sale moved quickly, staying on the market for a median of 51 days, significantly lower than the national median of 70 days. The county's homes were listed at an average of 7 per square foot, up 5.8% from the previous year. Around 104 new listings entered the market in December, matching the number from the same period last year. This report focuses on properties listed for sale in Washington County and does not include sold properties or new constructions.

Housing Prices and Market Dynamics in Washington County

In December, the median home listing price in Washington County remained unchanged at 9,900 compared to the previous month. However, when contrasted with December 2023, there was an 8.5% decline from the earlier median of 2,445. The median home size in the county was 1,808 square feet, priced at 7 per square foot, representing a 5.8% increase from the previous year. These figures reflect the current state of single-family homes, condominiums, and townhomes listed for sale in the county, excluding new constructions and pending sales.

Despite the decrease in median listing prices, homes in Washington County continued to attract buyers swiftly. The median time on the market was 51 days, which is notably faster than the national median of 70 days. This indicates that while prices have adjusted downward, buyer interest remains robust. Additionally, the number of new listings entering the market in December remained consistent with the previous year, with approximately 104 new homes being added to the inventory. This stability in new listings suggests a balanced market where supply meets demand without significant fluctuations.

Regional and National Comparisons

Within the broader Hagerstown-Martinsburg metro area, the median home listing price rose slightly to 7,490, indicating a modest improvement over the previous month. The median home size in this region was 1,860 square feet, priced at 9 per square foot. Meanwhile, across Maryland, the median home listing price was 9,995, showing a slight decrease from November. The median Maryland home listed for sale had 1,778 square feet, priced at 9 per square foot. Nationally, the median home price stood at 2,502, with a slight decline from the previous month. The median American home listed for sale was 1,800 square feet, priced at 2 per square foot.

These regional and national comparisons highlight the unique dynamics of the Washington County housing market. While the county experienced a decrease in median listing prices, it still outperformed the national trend in terms of home sales velocity. The median home in Washington County remained competitive in both price and square footage relative to neighboring areas and the state as a whole. The stability in new listings and the quick turnover of homes suggest that the local market is resilient and continues to attract buyers despite pricing adjustments. Experts emphasize that using the median rather than the average provides a more accurate reflection of market conditions, avoiding distortions caused by outliers in home prices.