The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market May 2020

Zip Code(s): 20015
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -35%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -11%
Vs. Year Ago
Vs. Year Ago

Units Sold
The number of units sold remained stable in May, with 17 sold this month in Chevy Chase DC Real Estate. This month's total units sold was lower than at this time last year, a decrease of 27% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 3 units or 10%. The total number of active inventory this May was 28 compared to 31 in May 2019. This month's total of 28 is higher than the previous month's total supply of available inventory of 24, an increase of 17%.

Median Sale Price
Last May, the median sale price for Chevy Chase DC Homes was $1,081,000. This May, the median sale price was $962,500, a decrease of 11% or $118,500 compared to last year. The current median sold price is 20% lower 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -27%
Vs. Year Ago
Down -41%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Up 39%
Vs. Year Ago

Months of Supply
In May, there was 1.6 months of supply available in Chevy Chase DC, compared to 1.2 in May 2019. That is an increase of 38% 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 30 homes newly listed for sale in Chevy Chase DC compared to 41 in May 2019, a decrease of 27%. There were 22 current contracts pending sale this May compared to 37 a year ago. The number of current contracts is 41% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Chevy Chase DC was 101.0% of the average list price, which is 1.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 7, lower than the average last year, which was 14. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Chevy Chase DC is defined as properties in zip code 20015.
*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.