The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market July 2019

Zip Code(s): 20015
Units Sold
36
Active Inventory
27
Median Sale Price
$982,500
Days On Market
19
Up
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 36%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in July, with 36 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 July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 2 units or 7%. The total number of active inventory this July was 27 compared to 29 in July 2018. This month's total of 27 is lower than the previous month's total supply of available inventory of 32, a decrease of 16%.

Median Sale Price
Last July, the median sale price for Chevy Chase DC Homes was $1,170,000. This July, the median sale price was $982,500, a decrease of 16% or $187,500 compared to last year. The current median sold price is 16% lower than in June.

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


New Listings
23
Current Contracts
21
Sold Vs. List Price
101.7%
Months of Supply
0.8
Up 28%
Vs. Year Ago
Up 40%
Vs. Year Ago
Up 2.7%
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In July, there was 0.8 months of supply available in Chevy Chase DC, compared to 1.5 in July 2018. That is a decrease of 51% 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 23 homes newly listed for sale in Chevy Chase DC compared to 18 in July 2018, an increase of 28%. There were 21 current contracts pending sale this July compared to 15 a year ago. The number of current contracts is 40% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Chevy Chase DC was 101.7% of the average list price, which is 2.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 19, higher than the average last year, which was 14, 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.