The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market September 2018

Zip Code(s): 20017 and 20018
Units Sold
43
Active Inventory
114
Median Sale Price
$479,000
Days On Market
25
Down -30%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 43 sold this month in Brookland and Woodridge Real Estate versus 44 last month, a decrease of 2%. This month's total units sold was lower than at this time last year, a decrease of 30% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 1%. The total number of active inventory this September was 114 compared to 113 in September 2017. This month's total of 114 is higher than the previous month's total supply of available inventory of 103, an increase of 11%.

Median Sale Price
Last September, the median sale price for Brookland and Woodridge Homes was $533,000. This September, the median sale price was $479,000, a decrease of 10% or $54,000 compared to last year. The current median sold price is 13% lower than in August.

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


New Listings
74
Current Contracts
42
Sold Vs. List Price
100.3%
Months of Supply
2.7
Down -10%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Up 43%
Vs. Year Ago

Months of Supply
In September, there was 2.7 months of supply available in Brookland and Woodridge, compared to 1.9 in September 2017. That is an increase of 43% 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 74 homes newly listed for sale in Brookland and Woodridge compared to 82 in September 2017, a decrease of 10%. There were 42 current contracts pending sale this September compared to 53 a year ago. The number of current contracts is 21% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Brookland and Woodridge was 100.3% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 29, a decrease of 14%.

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.