The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market October 2018

Zip Code(s): 20017 and 20018
Units Sold
38
Active Inventory
120
Median Sale Price
$573,910
Days On Market
42
Down -30%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -9%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 38 sold this month in Brookland and Woodridge Real Estate versus 45 last month, a decrease of 16%. This month's total units sold was lower than at this time last year, a decrease of 30% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 7 units or 6%. The total number of active inventory this October was 120 compared to 113 in October 2017. This month's total of 120 is lower than the previous month's total supply of available inventory of 122, a decrease of 2%.

Median Sale Price
Last October, the median sale price for Brookland and Woodridge Homes was $496,000. This October, the median sale price was $573,910, an increase of 16% or $77,910 compared to last year. The current median sold price is 15% higher than in September.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
65
Current Contracts
43
Sold Vs. List Price
99.6%
Months of Supply
3.2
Up 3%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 0.5%
Vs. Year Ago
Up 51%
Vs. Year Ago

Months of Supply
In October, there was 3.2 months of supply available in Brookland and Woodridge, compared to 2.1 in October 2017. That is an increase of 51% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 65 homes newly listed for sale in Brookland and Woodridge compared to 63 in October 2017, an increase of 3%. There were 43 current contracts pending sale this October compared to 41 a year ago. The number of current contracts is 5% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Brookland and Woodridge was 99.6% of the average list price, which is 0.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 42, lower than the average last year, which was 46, a decrease of 9%.

The Long & Foster Market Minute Brookland and Woodridge are defined as properties in zip codes 20017/20018.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.