The Long & Foster Market Minute

Focus On: Bowie Housing Market September 2018

Zip Code(s): 20715, 20716, 20720 and 20721
Units Sold
127
Active Inventory
289
Median Sale Price
$349,999
Days On Market
35
Down -12%
Vs. Year Ago
Down -19%
Vs. Year Ago
No Change
Vs. Year Ago
Down -3%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 127 sold this month in Bowie Real Estate versus 152 last month, a decrease of 16%. This month's total units sold was lower than at this time last year, a decrease of 12% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 69 units or 19%. The total number of active inventory this September was 289 compared to 358 in September 2017. This month's total of 289 is lower than the previous month's total supply of available inventory of 321, a decrease of 10%.

Median Sale Price
Last September, the median sale price for Bowie Homes was $349,900. This September, the median sale price was $349,999, which is similar compared to a year ago. The current median sold price is 2% higher than in August.

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


New Listings
156
Current Contracts
141
Sold Vs. List Price
99.2%
Months of Supply
2.3
Down -5%
Vs. Year Ago
Up 9%
Vs. Year Ago
No Change
Vs. Year Ago
Down -8%
Vs. Year Ago

Months of Supply
In September, there was 2.3 months of supply available in Bowie, compared to 2.5 in September 2017. That is a decrease of 8% 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 156 homes newly listed for sale in Bowie compared to 164 in September 2017, a decrease of 5%. There were 141 current contracts pending sale this September compared to 129 a year ago. The number of current contracts is 9% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Bowie was 99.2% 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 35, lower than the average last year, which was 36, a decrease of 3%.

The Long & Foster Market Minute Bowie are defined as properties listed in zip code/s 20715, 20716, 20720 and 20721.
*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.