The Long & Foster Market Minute

FOCUS ON: ROCKVILLE HOUSING MARKET APRIL 2024

Zip Code(s): 20850, 20851, 20852, 20853 and 20896
Units Sold
129
Active Inventory
113
Median Sale Price
$675,000
Days On Market
13
Up 4%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 129 sold this month in Rockville Real Estate versus 114 last month, an increase of 13%. This month's total units sold was higher than at this time last year, an increase of 4% versus April 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 12%. The total number of active inventory this April was 113 compared to 128 in April 2023. This month's total of 113 is lower than the previous month's total supply of available inventory of 135, a decrease of 16%.

Median Sale Price
Last April, the median sale price for Rockville Homes was $607,500. This April, the median sale price was $675,000, an increase of 11% or $67,500 compared to last year. The current median sold price is 8% higher than in March.

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


New Listings
162
Current Contracts
165
Sold Vs. List Price
103.5%
Months of Supply
0.9
Up 17%
Vs. Year Ago
Up 40%
Vs. Year Ago
Up 0.5%
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In April, there was 0.9 months of supply available in Rockville, compared to 1.0 in April 2023. That is a decrease 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 162 homes newly listed for sale in Rockville compared to 138 in April 2023, an increase of 17%. There were 165 current contracts pending sale this April compared to 118 a year ago. The number of current contracts is 40% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Rockville was 103.5% of the average list price, which is 0.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 13, lower than the average last year, which was 14, a decrease of 7%.

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.