The Long & Foster Market Minute

Focus On: Rockville Housing Market November 2018

Zip Code(s): 20850, 20851, 20852, 20853 and 20896
Units Sold
115
Active Inventory
283
Median Sale Price
$495,000
Days On Market
55
Down -9%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 6%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 115 sold this month in Rockville Real Estate versus 124 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 9% versus November 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 12 units or 4%. The total number of active inventory this November was 283 compared to 271 in November 2017. This month's total of 283 is lower than the previous month's total supply of available inventory of 322, a decrease of 12%.

Median Sale Price
Last November, the median sale price for Rockville Homes was $428,000. This November, the median sale price was $495,000, an increase of 16% or $67,000 compared to last year. The current median sold price is 13% higher 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
130
Current Contracts
109
Sold Vs. List Price
99.0%
Months of Supply
2.5
Up 9%
Vs. Year Ago
Down -8%
Vs. Year Ago
No Change
Vs. Year Ago
Up 15%
Vs. Year Ago

Months of Supply
In November, there was 2.5 months of supply available in Rockville, compared to 2.1 in November 2017. That is an increase of 15% 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 130 homes newly listed for sale in Rockville compared to 119 in November 2017, an increase of 9%. There were 109 current contracts pending sale this November compared to 118 a year ago. The number of current contracts is 8% lower than last November.

Sale Price to List Price Ratio
In November, the average sale price in Rockville was 99.0% 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 55, higher than the average last year, which was 52, an increase of 6%.

The Long & Foster Market Minute Rockville are defined as properties listed in zip code/s 20850, 20851, 20852, 20853 and 20896.
*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.