Some interesting things occurred in the Edgewood, MD real estate market in August. Part of what we saw was just an extension of what we’ve been seeing all summer, which is a rather troubling market for existing home sales, but there is some light at the end of the tunnel.

The median sold price actually increased from $127,019 to $130,000, but with that modest increase it also took much longer to sell properties. Last year, it took an average of 71 days to sell a property in the Edgewood market, while this past August; it took a whopping 137 days. Last year, there were a lot more foreclosures on the market, which usually sell faster and for less than other types of homes.

There are currently now just 137 properties on the market in the Edgewood, MD area, which is down from the 209 that were listed at the same time last year. Also, there were 41 contracts pending, which is only one more than the 40 that were pending in August of 2010.