The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market September 2018

Zip Code(s): 20015
Units Sold
12
Active Inventory
23
Median Sale Price
$1,224,750
Days On Market
22
Down -20%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up
Vs. Year Ago
Down -24%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 12 sold this month in Chevy Chase DC Real Estate versus 18 last month, a decrease of 33%. This month's total units sold was lower than at this time last year, a decrease of 20% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 16 units or 41%. The total number of active inventory this September was 23 compared to 39 in September 2017. This month's total of 23 is lower than the previous month's total supply of available inventory of 26, a decrease of 12%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last September, the median sale price for Chevy Chase DC Homes was $825,000. This September, the median sale price was $1,224,750, an increase of $399,750 compared to last year. The current median sold price is 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
20
Current Contracts
16
Sold Vs. List Price
100.5%
Months of Supply
1.9
Down -41%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In September, there was 1.9 months of supply available in Chevy Chase DC, compared to 2.6 in September 2017. That is a decrease of 26% 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 20 homes newly listed for sale in Chevy Chase DC compared to 34 in September 2017, a decrease of 41%. There were 16 current contracts pending sale this September compared to 17 a year ago. The number of current contracts is 6% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Chevy Chase DC was 100.5% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 29, a decrease of 24%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.