The Long & Foster Market Minute

Focus On: Rockville Housing Market August 2018

Zip Code(s): 20850, 20851, 20852, 20853 and 20896
Units Sold
156
Active Inventory
335
Median Sale Price
$458,950
Days On Market
28
Up 1%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 156 sold this month in Rockville Real Estate versus 147 last month, an increase of 6%. This month's total units sold was higher than at this time last year, an increase of 1% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 6%. The total number of active inventory this August was 335 compared to 358 in August 2017. This month's total of 335 is lower than the previous month's total supply of available inventory of 342, a decrease of 2%.

Median Sale Price
Last August, the median sale price for Rockville Homes was $427,500. This August, the median sale price was $458,950, an increase of 7% or $31,450 compared to last year. The current median sold price is 4% lower than in July.

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


New Listings
174
Current Contracts
113
Sold Vs. List Price
98.8%
Months of Supply
2.1
Up 5%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -8%
Vs. Year Ago

Months of Supply
In August, there was 2.1 months of supply available in Rockville, compared to 2.3 in August 2017. That is a decrease of 8% 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 174 homes newly listed for sale in Rockville compared to 166 in August 2017, an increase of 5%. There were 113 current contracts pending sale this August compared to 122 a year ago. The number of current contracts is 7% lower than last August.

Sale Price to List Price Ratio
In August, 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 28, lower than the average last year, which was 36, a decrease of 22%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.