The Long & Foster Market Minute

Focus On: Rockville Housing Market August 2022

Zip Code(s): 20850, 20851, 20852, 20853 and 20896
Units Sold
155
Active Inventory
167
Median Sale Price
$565,000
Days On Market
20
Down -22%
Vs. Year Ago
Down -40%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 11%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 155 sold this month in Rockville Real Estate versus 148 last month, an increase of 5%. This month's total units sold was lower than at this time last year, a decrease of 22% versus August 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 111 units or 40%. The total number of active inventory this August was 167 compared to 278 in August 2021. This month's total of 167 is lower than the previous month's total supply of available inventory of 190, a decrease of 12%.

Median Sale Price
Last August, the median sale price for Rockville Homes was $577,500. This August, the median sale price was $565,000, a decrease of 2% or $12,500 compared to last year. The current median sold price is 4% higher 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
125
Current Contracts
126
Sold Vs. List Price
99.6%
Months of Supply
1.1
Down -44%
Vs. Year Ago
Down -36%
Vs. Year Ago
Down -1.6%
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In August, there was 1.1 months of supply available in Rockville, compared to 1.4 in August 2021. That is a decrease of 23% 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 125 homes newly listed for sale in Rockville compared to 222 in August 2021, a decrease of 44%. There were 126 current contracts pending sale this August compared to 197 a year ago. The number of current contracts is 36% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Rockville was 99.6% of the average list price, which is 1.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 20, higher than the average last year, which was 18, an increase 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 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.