The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market August 2018

Zip Code(s): 20017 and 20018
Units Sold
44
Active Inventory
95
Median Sale Price
$549,500
Days On Market
18
Down -6%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -36%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 44 sold this month in Brookland and Woodridge Real Estate versus 39 last month, an increase of 13%. This month's total units sold was lower than at this time last year, a decrease of 6% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 17%. The total number of active inventory this August was 95 compared to 114 in August 2017. This month's total of 95 is lower than the previous month's total supply of available inventory of 101, a decrease of 6%.

Median Sale Price
Last August, the median sale price for Brookland and Woodridge Homes was $520,000. This August, the median sale price was $549,500, an increase of 6% or $29,500 compared to last year. The current median sold price is 5% lower than in July.

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


New Listings
63
Current Contracts
50
Sold Vs. List Price
100.2%
Months of Supply
2.2
Up 2%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -0.5%
Vs. Year Ago
Down -11%
Vs. Year Ago

Months of Supply
In August, there was 2.2 months of supply available in Brookland and Woodridge, compared to 2.4 in August 2017. That is a decrease of 11% 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 63 homes newly listed for sale in Brookland and Woodridge compared to 62 in August 2017, an increase of 2%. There were 50 current contracts pending sale this August compared to 57 a year ago. The number of current contracts is 12% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Brookland and Woodridge was 100.2% of the average list price, which is 0.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 28, a decrease of 36%.

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.