The Long & Foster Market Minute

Focus On: Bowie Housing Market May 2020

Zip Code(s): 20715, 20716, 20720 and 20721
Units Sold
97
Active Inventory
83
Median Sale Price
$379,900
Days On Market
22
Down -43%
Vs. Year Ago
Down -69%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -27%
Vs. Year Ago

Units Sold
The number of units sold remained stable in May, with 97 sold this month in Bowie Real Estate. This month's total units sold was lower than at this time last year, a decrease of 29% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 181 units or 69%. The total number of active inventory this May was 83 compared to 264 in May 2019. This month's total of 83 is lower than the previous month's total supply of available inventory of 110, a decrease of 25%.

Median Sale Price
Last May, the median sale price for Bowie Homes was $349,900. This May, the median sale price was $379,900, an increase of 9% or $30,000 compared to last year. The current median sold price is 4% higher than in April.

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


New Listings
132
Current Contracts
142
Sold Vs. List Price
99.7%
Months of Supply
0.9
Down -29%
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In May, there was 0.9 months of supply available in Bowie, compared to 1.6 in May 2019. That is a decrease of 45% 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 132 homes newly listed for sale in Bowie compared to 186 in May 2019, a decrease of 29%. There were 142 current contracts pending sale this May compared to 136 a year ago. The number of current contracts is 4% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Bowie was 99.7% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 30, a decrease of 27%.

The Long & Foster Market Minute Bowie are defined as properties listed in zip code/s 20715, 20716, 20720 and 20721.
*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.