The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market October 2022

Zip Code(s): 20017 and 20018
Units Sold
30
Active Inventory
131
Median Sale Price
$636,592
Days On Market
32
Down
Vs. Year Ago
Up 35%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in October, with 30 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 October 2021.

Active Inventory
Versus last year, the total number of homes available this month is higher by 34 units or 35%. The total number of active inventory this October was 131 compared to 97 in October 2021. This month's total of 131 is higher than the previous month's total supply of available inventory of 119, an increase of 10%.

Median Sale Price
Last October, the median sale price for Brookland and Woodridge Homes was $659,000. This October, the median sale price was $636,592, a decrease of 3% or $22,408 compared to last year. The current median sold price is 3% lower than in September.

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


New Listings
73
Current Contracts
25
Sold Vs. List Price
101.0%
Months of Supply
4.4
Down -14%
Vs. Year Ago
Down -48%
Vs. Year Ago
Down -2.5%
Vs. Year Ago
Up 121%
Vs. Year Ago

Months of Supply
In October, there was 4.4 months of supply available in Brookland and Woodridge, compared to 2.0 in October 2021. That is an increase of 121% 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 73 homes newly listed for sale in Brookland and Woodridge compared to 85 in October 2021, a decrease of 14%. There were 25 current contracts pending sale this October compared to 48 a year ago. The number of current contracts is 48% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Brookland and Woodridge was 101.0% of the average list price, which is 2.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 32, higher than the average last year, which was 21. This increase was impacted by the limited number of sales.

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.