The Long & Foster Market Minute

Focus On: Chevy Chase MD Housing Market July 2019

Zip Code(s): 20815
Units Sold
60
Active Inventory
98
Median Sale Price
$897,450
Days On Market
38
Up
Vs. Year Ago
Down -36%
Vs. Year Ago
Down -21%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was an increase in total units sold in July, with 60 sold this month in Chevy Chase MD Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 56 units or 36%. The total number of active inventory this July was 98 compared to 154 in July 2018. This month's total of 98 is lower than the previous month's total supply of available inventory of 122, a decrease of 20%.

Median Sale Price
Last July, the median sale price for Chevy Chase MD Homes was $1,139,000. This July, the median sale price was $897,450, a decrease of 21% or $241,550 compared to last year. The current median sold price is 8% lower than in June.

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


New Listings
46
Current Contracts
37
Sold Vs. List Price
98.9%
Months of Supply
1.6
Down -19%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -1.2%
Vs. Year Ago
Down -63%
Vs. Year Ago

Months of Supply
In July, there was 1.6 months of supply available in Chevy Chase MD, compared to 4.4 in July 2018. That is a decrease of 63% 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 46 homes newly listed for sale in Chevy Chase MD compared to 57 in July 2018, a decrease of 19%. There were 37 current contracts pending sale this July compared to 36 a year ago. The number of current contracts is 3% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Chevy Chase MD was 98.9% of the average list price, which is 1.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 38, which is similar compared to a year ago.

The Long & Foster Market Minute Chevy Chase MD are defined as properties listed in zip code/s 20815.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.