The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market May 2020

Zip Code(s): 20017 and 20018
Units Sold
35
Active Inventory
71
Median Sale Price
$700,000
Days On Market
43
Down
Vs. Year Ago
Down -43%
Vs. Year Ago
Up
Vs. Year Ago
Up 10%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 35 sold this month in Brookland and Woodridge Real Estate. This month's total units sold was lower than at this time last year, a decrease from May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 53 units or 43%. The total number of active inventory this May was 71 compared to 124 in May 2019. This month's total of 71 is lower than the previous month's total supply of available inventory of 85, a decrease of 16%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Brookland and Woodridge Homes was $590,000. This May, the median sale price was $700,000, an increase of $110,000 compared to last year. The current median sold price is higher 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
63
Current Contracts
62
Sold Vs. List Price
99.3%
Months of Supply
2.0
Down -31%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -0.5%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 2.0 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 63 homes newly listed for sale in Brookland and Woodridge compared to 91 in May 2019, a decrease of 31%. There were 62 current contracts pending sale this May compared to 55 a year ago. The number of current contracts is 13% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Brookland and Woodridge was 99.3% of the average list price, which is 0.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 43, higher than the average last year, which was 39, an increase of 10%.

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.