The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market July 2018

Zip Code(s): 20017 and 20018
Units Sold
39
Active Inventory
94
Median Sale Price
$580,000
Days On Market
19
Down
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -34%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in July, with 39 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 July 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 38 units or 29%. The total number of active inventory this July was 94 compared to 132 in July 2017. This month's total of 94 is lower than the previous month's total supply of available inventory of 95, a decrease of 1%.

Median Sale Price
Last July, the median sale price for Brookland and Woodridge Homes was $549,000. This July, the median sale price was $580,000, an increase of 6% or $31,000 compared to last year. The current median sold price is 5% higher than in June.

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


New Listings
65
Current Contracts
43
Sold Vs. List Price
100.0%
Months of Supply
2.4
Down -24%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Up 12%
Vs. Year Ago

Months of Supply
In July, there was 2.4 months of supply available in Brookland and Woodridge, compared to 2.2 in July 2017. 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 65 homes newly listed for sale in Brookland and Woodridge compared to 85 in July 2017, a decrease of 24%. There were 43 current contracts pending sale this July compared to 52 a year ago. The number of current contracts remained stable as compared to last July.

Sale Price to List Price Ratio
In July, the average sale price in Brookland and Woodridge was 100.0% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 19, lower than the average last year, which was 29, a decrease of 34%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.