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Maryland State Wire

Friday, November 22, 2024

Olney home prices fall in the first quarter of 2018

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The median sale price of a home sold in the first quarter of 2018 in Olney fell by $12,500 while total sales decreased by 38.6%, according to BlockShopper.com.

From January through March of 2018, there were 62 homes sold, with a median sale price of $462,500 - a 2.6% decrease over the $475,000 median sale price for the same period of the previous year. There were 101 homes sold in Olney in the first quarter of 2017.

The median sales tax in Olney for the most recent year with available data, 2016, was $5,392, approximately 1.2% of the median home sale price for the first quarter of 2018.

The following table compares Olney to other Montgomery County cities with similar median sales prices in the first quarter of 2018:

CityJan. - Mar. 2018 Home SalesJan. - Mar. 2017 Home Sales% change (Total Home Sales)Jan. - Mar. 2018 Median Sales PriceJan. - Mar. 2017 Median Sales Price% change (Median Sales Price)
Takoma Park35342.9%$530,500$394,45034.5%
Washington Grove20-$518,000$0-
Rockville105134-21.6%$513,000$460,00011.5%
Silver Spring131155-15.5%$508,000$469,3428.2%
Forest Glen23224.5%$489,900$423,87515.6%
Olney62101-38.6%$462,500$475,000-2.6%
Colesville4457-22.8%$445,000$433,5002.7%
Cloverly211540%$438,000$465,000-5.8%
North Kensington3655-34.5%$427,000$399,9996.8%
Clarksburg483537.1%$424,000$432,500-2%
Kemp Mill3748-22.9%$420,000$410,0002.4%

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