The Long & Foster Market Minute

Focus On: Rockville Housing Market May 2018

Zip Code(s): 20850, 20851, 20852, 20853 and 20896
Units Sold
179
Active Inventory
321
Median Sale Price
$477,500
Days On Market
24
Up 23%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 179 sold this month in Rockville Real Estate versus 135 last month, an increase of 33%. This month's total units sold was higher than at this time last year, an increase of 23% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 75 units or 19%. The total number of active inventory this May was 321 compared to 396 in May 2017. This month's total of 321 is lower than the previous month's total supply of available inventory of 342, a decrease of 6%.

Median Sale Price
Last May, the median sale price for Rockville Homes was $458,950. This May, the median sale price was $477,500, an increase of 4% or $18,550 compared to last year. The current median sold price is 5% lower than in April.

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


New Listings
224
Current Contracts
184
Sold Vs. List Price
99.5%
Months of Supply
1.8
Down -19%
Vs. Year Ago
Down -9%
Vs. Year Ago
No Change
Vs. Year Ago
Down -34%
Vs. Year Ago

Months of Supply
In May, there was 1.8 months of supply available in Rockville, compared to 2.7 in May 2017. That is a decrease of 34% 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 224 homes newly listed for sale in Rockville compared to 275 in May 2017, a decrease of 19%. There were 184 current contracts pending sale this May compared to 203 a year ago. The number of current contracts is 9% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Rockville was 99.5% 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 24, lower than the average last year, which was 27, a decrease of 11%.

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.