The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market January 2019

Zip Code(s): 20017 and 20018
Units Sold
30
Active Inventory
103
Median Sale Price
$492,000
Days On Market
55
Down -23%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 25%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 30 sold this month in Brookland and Woodridge Real Estate versus 42 last month, a decrease of 29%. This month's total units sold was lower than at this time last year, a decrease of 23% versus January 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 15 units or 17%. The total number of active inventory this January was 103 compared to 88 in January 2018. This month's total of 103 is lower than the previous month's total supply of available inventory of 126, a decrease of 18%.

Median Sale Price
Last January, the median sale price for Brookland and Woodridge Homes was $430,000. This January, the median sale price was $492,000, an increase of 14% or $62,000 compared to last year. The current median sold price is 17% lower than in December.

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


New Listings
64
Current Contracts
47
Sold Vs. List Price
96.7%
Months of Supply
3.4
Up 23%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -2.2%
Vs. Year Ago
Up 52%
Vs. Year Ago

Months of Supply
In January, there was 3.4 months of supply available in Brookland and Woodridge, compared to 2.3 in January 2018. That is an increase of 52% 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 64 homes newly listed for sale in Brookland and Woodridge compared to 52 in January 2018, an increase of 23%. There were 47 current contracts pending sale this January compared to 50 a year ago. The number of current contracts is 6% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Brookland and Woodridge was 96.7% of the average list price, which is 2.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 55, higher than the average last year, which was 44, an increase of 25%.

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.