The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market December 2017

Zip Code(s): 20015
Units Sold
12
Active Inventory
23
Median Sale Price
$924,950
Days On Market
41
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 20%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 12 sold this month in Chevy Chase DC Real Estate versus 9 last month, an increase of 33%. This month's total units sold was higher than at this time last year, an increase of 20% versus December 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 3 units or 12%. The total number of active inventory this December was 23 compared to 26 in December 2016. This month's total of 23 is lower than the previous month's total supply of available inventory of 25, a decrease of 8%.

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Median Sale Price
Last December, the median sale price for Chevy Chase DC Homes was $943,000. This December, the median sale price was $924,950, a decrease of 2% or $18,050 compared to last year. The current median sold price is 1% lower than in November.

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

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New Listings
12
Current Contracts
9
Sold Vs. List Price
101.9%
Months of Supply
1.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -25%
Vs. Year Ago
Down -40%
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In December, there was 1.9 months of supply available in Chevy Chase DC, compared to 2.6 in December 2016. That is a decrease of 26% 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.

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New Listings & Current Contracts
This month there were 12 homes newly listed for sale in Chevy Chase DC compared to 16 in December 2016, a decrease of 25%. There were 9 current contracts pending sale this December compared to 15 a year ago. The number of current contracts is 40% lower than last December.

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Sale Price to List Price Ratio
In December, the average sale price in Chevy Chase DC was 101.9% of the average list price, which is 1.9% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 41, higher than the average last year, which was 21. This increase was impacted by the limited number of sales.

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The Long & Foster Market Minute Chevy Chase DC is defined as properties in zip code 20015.
*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.