The Long & Foster Market Minute

Focus On: Bowie Housing Market June 2018

Zip Code(s): 20715, 20716, 20720 and 20721
Units Sold
147
Active Inventory
293
Median Sale Price
$330,000
Days On Market
30
Down -12%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 2%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 147 sold this month in Bowie Real Estate versus 162 last month, a decrease of 9%. This month's total units sold was lower than at this time last year, a decrease of 12% versus June 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 74 units or 20%. The total number of active inventory this June was 293 compared to 367 in June 2017. This month's total of 293 is higher than the previous month's total supply of available inventory of 269, an increase of 9%.

Median Sale Price
Last June, the median sale price for Bowie Homes was $325,000. This June, the median sale price was approximately the same at $330,000. The current median sold price is 2% higher than in June 2017.

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


New Listings
220
Current Contracts
163
Sold Vs. List Price
100.2%
Months of Supply
2.0
Down -1%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In June, there was 2.0 months of supply available in Bowie, compared to 2.2 in June 2017. That is a decrease of 9% 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 220 homes newly listed for sale in Bowie compared to 222 in June 2017, a decrease of 1%. There were 163 current contracts pending sale this June compared to 136 a year ago. The number of current contracts is 20% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Bowie was 100.2% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 30, which is similar compared to a year ago.

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.