The Long & Foster Market Minute

Focus On: Bowie Housing Market December 2017

Zip Code(s): 20715, 20716, 20720 and 20721
Units Sold
109
Active Inventory
207
Median Sale Price
$340,000
Days On Market
39
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -11%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -26%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 109 sold this month in Bowie Real Estate versus 122 last month, a decrease of 11%. This month's total units sold was lower than at this time last year, a decrease of 11% versus December 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 102 units or 33%. The total number of active inventory this December was 207 compared to 309 in December 2016. This month's total of 207 is lower than the previous month's total supply of available inventory of 289, a decrease of 28%.

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Median Sale Price
Last December, the median sale price for Bowie Homes was $324,900. This December, the median sale price was $340,000, an increase of 5% or $15,100 compared to last year. The current median sold price is 3% higher 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
96
Current Contracts
127
Sold Vs. List Price
99.4%
Months of Supply
1.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -7%
Vs. Year Ago
Up 38%
Vs. Year Ago
No Change
Vs. Year Ago
Down -24%
Vs. Year Ago

Months of Supply
In December, there was 1.9 months of supply available in Bowie, compared to 2.5 in December 2016. That is a decrease of 24% 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 96 homes newly listed for sale in Bowie compared to 103 in December 2016, a decrease of 7%. There were 127 current contracts pending sale this December compared to 92 a year ago. The number of current contracts is 38% higher than last December.

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Sale Price to List Price Ratio
In December, the average sale price in Bowie was 99.4% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 39, lower than the average last year, which was 53, a decrease of 26%.

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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.