The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market January 2019

Zip Code(s): 20015
Units Sold
13
Active Inventory
13
Median Sale Price
$949,000
Days On Market
45
Up
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -10%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in January, with 13 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 January 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 8 units or 38%. The total number of active inventory this January was 13 compared to 21 in January 2018. This month's total of 13 is lower than the previous month's total supply of available inventory of 19, a decrease of 32%.

Median Sale Price
Last January, the median sale price for Chevy Chase DC Homes was $840,000. This January, the median sale price was $949,000, an increase of 13% or $109,000 compared to last year. The current median sold price is 3% lower than in December.

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


New Listings
13
Current Contracts
13
Sold Vs. List Price
99.6%
Months of Supply
1.0
Up 8%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -57%
Vs. Year Ago

Months of Supply
In January, there was 1.0 months of supply available in Chevy Chase DC, compared to 2.3 in January 2018. That is a decrease of 57% 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 13 homes newly listed for sale in Chevy Chase DC compared to 12 in January 2018, an increase of 8%. There were 13 current contracts pending sale this January compared to 12 a year ago. The number of current contracts is 8% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Chevy Chase DC was 99.6% of the average list price, which is 2.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 45, lower than the average last year, which was 50, a decrease of 10%.

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.