The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market June 2018

Zip Code(s): 20017 and 20018
Units Sold
44
Active Inventory
86
Median Sale Price
$552,000
Days On Market
26
Down -4%
Vs. Year Ago
Down -31%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 8%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 44 sold this month in Brookland and Woodridge Real Estate versus 47 last month, a decrease of 6%. This month's total units sold was lower than at this time last year, a decrease of 4% versus June 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 39 units or 31%. The total number of active inventory this June was 86 compared to 125 in June 2017. This month's total of 86 is higher than the previous month's total supply of available inventory of 84, an increase of 2%.

Median Sale Price
Last June, the median sale price for Brookland and Woodridge Homes was $610,500. This June, the median sale price was $552,000, a decrease of 10% or $58,500 compared to last year. The current median sold price is 1% lower than in May.

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


New Listings
74
Current Contracts
47
Sold Vs. List Price
99.3%
Months of Supply
2.0
Down -5%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -2.1%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In June, there was 2.0 months of supply available in Brookland and Woodridge, compared to 2.7 in June 2017. That is a decrease of 28% 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 74 homes newly listed for sale in Brookland and Woodridge compared to 78 in June 2017, a decrease of 5%. There were 47 current contracts pending sale this June compared to 52 a year ago. The number of current contracts is 10% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Brookland and Woodridge was 99.3% of the average list price, which is 2.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 26, higher than the average last year, which was 24, an increase of 8%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.