The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market March 2019

Zip Code(s): 20017 and 20018
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -12%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 46 sold this month in Brookland and Woodridge Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 2 units or 2%. The total number of active inventory this March was 87 compared to 89 in March 2018. This month's total of 87 is lower than the previous month's total supply of available inventory of 100, a decrease of 13%.

Median Sale Price
Last March, the median sale price for Brookland and Woodridge Homes was $597,500. This March, the median sale price was $504,950, a decrease of 15% or $92,550 compared to last year. The current median sold price is 16% lower than in February.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 42%
Vs. Year Ago
Up 60%
Vs. Year Ago
No Change
Vs. Year Ago
Up 11%
Vs. Year Ago

Months of Supply
In March, there was 1.9 months of supply available in Brookland and Woodridge, compared to 1.7 in March 2018. That is an increase of 11% 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 78 homes newly listed for sale in Brookland and Woodridge compared to 55 in March 2018, an increase of 42%. There were 69 current contracts pending sale this March compared to 43 a year ago. The number of current contracts is 60% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Brookland and Woodridge was 99.7% 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 51, higher than the average last year, which was 45, an increase of 13%.

The Long & Foster Market Minute Brookland and Woodridge are defined as properties in zip codes 20017/20018.
*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.