The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market December 2022

Zip Code(s): 20015
Units Sold
13
Active Inventory
13
Median Sale Price
$1,180,000
Days On Market
27
Down -13%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 13 sold this month in Chevy Chase DC Real Estate versus 19 last month, a decrease of 32%. This month's total units sold was lower than at this time last year, a decrease of 13% versus December 2021.

Active Inventory
Versus last year, the total number of homes available this month is higher by 2 units or 18%. The total number of active inventory this December was 13 compared to 11 in December 2021. This month's total of 13 is lower than the previous month's total supply of available inventory of 23, a decrease of 43%.

Median Sale Price
Last December, the median sale price for Chevy Chase DC Homes was $1,340,000. This December, the median sale price was $1,180,000, a decrease of 12% or $160,000 compared to last year. The current median sold price is 11% lower than in November.

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


New Listings
4
Current Contracts
11
Sold Vs. List Price
99.9%
Months of Supply
1.0
Down -50%
Vs. Year Ago
Up 57%
Vs. Year Ago
Down -4.7%
Vs. Year Ago
Up 37%
Vs. Year Ago

Months of Supply
In December, there was 1.0 months of supply available in Chevy Chase DC, compared to 0.7 in December 2021. That is an increase of 36% 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 4 homes newly listed for sale in Chevy Chase DC compared to 8 in December 2021, a decrease of 50%. There were 11 current contracts pending sale this December compared to 7 a year ago. The number of current contracts is 57% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Chevy Chase DC was 99.9% of the average list price, which is 4.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 27, higher than the average last year, which was 14. This increase 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.