The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market October 2023

Zip Code(s): 20017 and 20018
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -10%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 41%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 27 sold this month in Brookland and Woodridge Real Estate versus 32 last month, a decrease of 16%. This month's total units sold was lower than at this time last year, a decrease of 10% versus October 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 16 units or 11%. The total number of active inventory this October was 126 compared to 142 in October 2022. This month's total of 126 is lower than the previous month's total supply of available inventory of 141, a decrease of 11%.

Median Sale Price
Last October, the median sale price for Brookland and Woodridge Homes was $636,592. This October, the median sale price was approximately the same at $689,999. The current median sold price is 8% higher than in October 2022.

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
Down -42%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In October, there was 4.7 months of supply available in Brookland and Woodridge. The amount of supply is similar compared to 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 42 homes newly listed for sale in Brookland and Woodridge compared to 73 in October 2022, a decrease of 42%. There were 25 current contracts pending sale this October compared to 20 a year ago. The number of current contracts is 25% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Brookland and Woodridge was 100.4% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 45, higher than the average last year, which was 32, an increase of 41%.

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.