The Long & Foster Market Minute

Focus On: Chevy Chase MD Housing Market November 2018

Zip Code(s): 20815
Units Sold
30
Active Inventory
112
Median Sale Price
$950,000
Days On Market
86
Down
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 12%
Vs. Year Ago
Up 26%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in November, with 30 sold this month in Chevy Chase MD Real Estate. This month's total units sold was lower than at this time last year, a decrease from November 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 3 units or 3%. The total number of active inventory this November was 112 compared to 109 in November 2017. This month's total of 112 is lower than the previous month's total supply of available inventory of 133, a decrease of 16%.

Median Sale Price
Last November, the median sale price for Chevy Chase MD Homes was $845,000. This November, the median sale price was $950,000, an increase of 12% or $105,000 compared to last year. The current median sold price is 12% lower than in October.

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


New Listings
33
Current Contracts
26
Sold Vs. List Price
96.2%
Months of Supply
3.7
Down -8%
Vs. Year Ago
Down -40%
Vs. Year Ago
Down -2.2%
Vs. Year Ago
Up 61%
Vs. Year Ago

Months of Supply
In November, there was 3.7 months of supply available in Chevy Chase MD, compared to 2.3 in November 2017. That is an increase of 61% 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 33 homes newly listed for sale in Chevy Chase MD compared to 36 in November 2017, a decrease of 8%. There were 26 current contracts pending sale this November compared to 43 a year ago. The number of current contracts is 40% lower than last November.

Sale Price to List Price Ratio
In November, the average sale price in Chevy Chase MD was 96.2% of the average list price, which is 2.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 86, higher than the average last year, which was 68, an increase of 26%.

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.