The Long & Foster Market Minute

Focus On: Brookland and Woodridge Housing Market May 2018

Zip Code(s): 20017 and 20018
Units Sold
47
Active Inventory
74
Median Sale Price
$555,500
Days On Market
22
Down -23%
Vs. Year Ago
Down -41%
Vs. Year Ago
Down -6%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 47 sold this month in Brookland and Woodridge Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 51 units or 41%. The total number of active inventory this May was 74 compared to 125 in May 2017. This month's total of 74 is lower than the previous month's total supply of available inventory of 84, a decrease of 12%.

Median Sale Price
Last May, the median sale price for Brookland and Woodridge Homes was $589,000. This May, the median sale price was $555,500, a decrease of 6% or $33,500 compared to last year. The current median sold price is 2% 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
61
Current Contracts
55
Sold Vs. List Price
100.8%
Months of Supply
1.6
Down -25%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In May, there was 1.6 months of supply available in Brookland and Woodridge, compared to 2.0 in May 2017. That is a decrease of 23% 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 61 homes newly listed for sale in Brookland and Woodridge compared to 81 in May 2017, a decrease of 25%. There were 55 current contracts pending sale this May compared to 57 a year ago. The number of current contracts is 4% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Brookland and Woodridge was 100.8% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, which is similar compared to a year ago.

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.