The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market April 2019

Zip Code(s): 20015
Units Sold
22
Active Inventory
31
Median Sale Price
$1,022,500
Days On Market
45
Down -19%
Vs. Year Ago
Up 35%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 36%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 22 sold this month in Chevy Chase DC Real Estate versus 17 last month, an increase of 29%. This month's total units sold was lower than at this time last year, a decrease of 19% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 8 units or 35%. The total number of active inventory this April was 31 compared to 23 in April 2018. This month's total of 31 is higher than the previous month's total supply of available inventory of 15, an increase of 107%.

Median Sale Price
Last April, the median sale price for Chevy Chase DC Homes was $1,100,825. This April, the median sale price was $1,022,500, a decrease of 7% or $78,325 compared to last year. The current median sold price is 15% lower than in March.

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


New Listings
45
Current Contracts
25
Sold Vs. List Price
101.9%
Months of Supply
1.4
Up 61%
Vs. Year Ago
Up 32%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Up 66%
Vs. Year Ago

Months of Supply
In April, there was 1.4 months of supply available in Chevy Chase DC, compared to 0.9 in April 2018. That is an increase of 65% 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 45 homes newly listed for sale in Chevy Chase DC compared to 28 in April 2018, an increase of 61%. There were 25 current contracts pending sale this April compared to 19 a year ago. The number of current contracts is 32% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Chevy Chase DC was 101.9% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 45, higher than the average last year, which was 33, an increase of 36%.

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.