The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market June 2018

Zip Code(s): 20015
Units Sold
24
Active Inventory
27
Median Sale Price
$1,111,750
Days On Market
12
Down -17%
Vs. Year Ago
Down -40%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 20%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 24 sold this month in Chevy Chase DC Real Estate versus 21 last month, an increase of 14%. This month's total units sold was lower than at this time last year, a decrease of 17% versus June 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 18 units or 40%. The total number of active inventory this June was 27 compared to 45 in June 2017. This month's total of 27 is higher than the previous month's total supply of available inventory of 26, an increase of 4%.

Median Sale Price
Last June, the median sale price for Chevy Chase DC Homes was $1,000,005. This June, the median sale price was $1,111,750, an increase of 11% or $111,745 compared to last year. The current median sold price is 9% higher 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
26
Current Contracts
23
Sold Vs. List Price
102.3%
Months of Supply
1.1
Down -24%
Vs. Year Ago
Up 5%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Chevy Chase DC, compared to 1.6 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 26 homes newly listed for sale in Chevy Chase DC compared to 34 in June 2017, a decrease of 24%. There were 23 current contracts pending sale this June compared to 22 a year ago. The number of current contracts is 5% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Chevy Chase DC was 102.3% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 12, higher than the average last year, which was 10, an increase of 20%.

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.