The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market September 2019

Zip Code(s): 20015
Units Sold
19
Active Inventory
30
Median Sale Price
$1,075,000
Days On Market
22
Up
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in September, with 19 sold this month in Chevy Chase DC Real Estate. This month's total units sold was higher than at this time last year, an increase from September 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 6 units or 25%. The total number of active inventory this September was 30 compared to 24 in September 2018. This month's total of 30 is higher than the previous month's total supply of available inventory of 26, an increase of 15%.

Median Sale Price
Last September, the median sale price for Chevy Chase DC Homes was $1,224,750. This September, the median sale price was $1,075,000, a decrease of 12% or $149,750 compared to last year. The current median sold price is 10% higher than in August.

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


New Listings
35
Current Contracts
19
Sold Vs. List Price
100.6%
Months of Supply
1.6
Up 75%
Vs. Year Ago
Up 27%
Vs. Year Ago
No Change
Vs. Year Ago
Down -21%
Vs. Year Ago

Months of Supply
In September, there was 1.6 months of supply available in Chevy Chase DC, compared to 2.0 in September 2018. That is a decrease of 21% 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 35 homes newly listed for sale in Chevy Chase DC compared to 20 in September 2018, an increase of 75%. There were 19 current contracts pending sale this September compared to 15 a year ago. The number of current contracts is 27% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Chevy Chase DC was 100.6% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 23, a decrease of 4%.

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.