The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market April 2018

Zip Code(s): 20015
Units Sold
26
Active Inventory
20
Median Sale Price
$1,100,413
Days On Market
28
Up
Vs. Year Ago
Down -43%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 8%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in April, with 26 sold this month in Chevy Chase DC Real Estate. This month's total units sold was higher than at this time last year, an increase from April 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 43%. The total number of active inventory this April was 20 compared to 35 in April 2017. This month's total of 20 is higher than the previous month's total supply of available inventory of 17, an increase of 18%.

Median Sale Price
Last April, the median sale price for Chevy Chase DC Homes was $989,500. This April, the median sale price was $1,100,413, an increase of 11% or $110,913 compared to last year. The current median sold price is 5% higher than in March.

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


New Listings
27
Current Contracts
19
Sold Vs. List Price
102.9%
Months of Supply
0.8
Down -23%
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Down -60%
Vs. Year Ago

Months of Supply
In April, there was 0.8 months of supply available in Chevy Chase DC, compared to 1.9 in April 2017. That is a decrease of 60% 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 27 homes newly listed for sale in Chevy Chase DC compared to 35 in April 2017, a decrease of 23%. There were 19 current contracts pending sale this April compared to 27 a year ago. The number of current contracts is 30% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Chevy Chase DC was 102.9% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 28, higher than the average last year, which was 26, an increase of 8%.

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.