The Long & Foster Market Minute

Focus On: Chevy Chase MD Housing Market April 2019

Zip Code(s): 20815
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 5%
Vs. Year Ago
Down -32%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 71%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 40 sold this month in Chevy Chase MD Real Estate versus 38 last month, an increase of 5%. This month's total units sold was higher than at this time last year, an increase of 5% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 50 units or 32%. The total number of active inventory this April was 104 compared to 154 in April 2018. This month's total of 104 is lower than the previous month's total supply of available inventory of 106, a decrease of 2%.

Median Sale Price
Last April, the median sale price for Chevy Chase MD Homes was $975,000. This April, the median sale price was $875,000, a decrease of 10% or $100,000 compared to last year. The current median sold price is 2% lower than in March.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -13%
Vs. Year Ago
Up 20%
Vs. Year Ago
No Change
Vs. Year Ago
Down -36%
Vs. Year Ago

Months of Supply
In April, there was 2.6 months of supply available in Chevy Chase MD, compared to 4.1 in April 2018. That is a decrease of 36% 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 83 homes newly listed for sale in Chevy Chase MD compared to 95 in April 2018, a decrease of 13%. There were 59 current contracts pending sale this April compared to 49 a year ago. The number of current contracts is 20% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Chevy Chase MD was 98.5% 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 53, higher than the average last year, which was 31, an increase of 71%.

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.