The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market October 2018

Zip Code(s): 20015
Units Sold
10
Active Inventory
34
Median Sale Price
$862,500
Days On Market
26
Down -33%
Vs. Year Ago
No Change
Vs. Year Ago
Down
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 10 sold this month in Chevy Chase DC Real Estate versus 12 last month, a decrease of 17%. This month's total units sold was lower than at this time last year, a decrease of 33% versus October 2017.

Active Inventory
The total number of homes available this month is 34 units, which is similar compared to a year ago. This month's total of 34 is higher than the previous month's total supply of available inventory of 23, an increase of 48%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last October, the median sale price for Chevy Chase DC Homes was $890,000. This October, the median sale price was $862,500, a decrease of $27,500 compared to last year. The current median sold price is 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
27
Current Contracts
10
Sold Vs. List Price
101.7%
Months of Supply
3.4
Up 125%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Up 50%
Vs. Year Ago

Months of Supply
In October, there was 3.4 months of supply available in Chevy Chase DC, compared to 2.3 in October 2017. That is an increase of 50% 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 27 homes newly listed for sale in Chevy Chase DC compared to 12 in October 2017, an increase of 125%. There were 10 current contracts pending sale this October compared to 13 a year ago. The number of current contracts is 23% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Chevy Chase DC was 101.7% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 28, a decrease of 7%.

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.