The Long & Foster Market Minute

Focus On: Rockville Housing Market October 2018

Zip Code(s): 20850, 20851, 20852, 20853 and 20896
Units Sold
119
Active Inventory
315
Median Sale Price
$440,000
Days On Market
52
Down -2%
Vs. Year Ago
Down -6%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 119 sold this month in Rockville Real Estate versus 105 last month, an increase of 13%. This month's total units sold was lower than at this time last year, a decrease of 2% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 6%. The total number of active inventory this October was 315 compared to 335 in October 2017. This month's total of 315 is lower than the previous month's total supply of available inventory of 344, a decrease of 8%.

Median Sale Price
Last October, the median sale price for Rockville Homes was $439,875. This October, the median sale price was $440,000, which is similar compared to a year ago. The current median sold price is 10% higher than in September.

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


New Listings
179
Current Contracts
141
Sold Vs. List Price
98.8%
Months of Supply
2.6
Up 10%
Vs. Year Ago
Up 3%
Vs. Year Ago
No Change
Vs. Year Ago
Down -4%
Vs. Year Ago

Months of Supply
In October, there was 2.6 months of supply available in Rockville, compared to 2.8 in October 2017. That is a decrease of 4% 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 179 homes newly listed for sale in Rockville compared to 163 in October 2017, an increase of 10%. There were 141 current contracts pending sale this October compared to 137 a year ago. The number of current contracts is 3% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Rockville was 98.8% 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 52, which is similar compared to a year ago.

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.