The Long & Foster Market Minute

Focus On: Bowie Housing Market June 2019

Zip Code(s): 20715, 20716, 20720 and 20721
Units Sold
121
Active Inventory
209
Median Sale Price
$355,000
Days On Market
47
Down -19%
Vs. Year Ago
Down -36%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 47%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 121 sold this month in Bowie Real Estate versus 166 last month, a decrease of 27%. This month's total units sold was lower than at this time last year, a decrease of 19% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 119 units or 36%. The total number of active inventory this June was 209 compared to 328 in June 2018. This month's total of 209 is lower than the previous month's total supply of available inventory of 247, a decrease of 15%.

Median Sale Price
Last June, the median sale price for Bowie Homes was $330,750. This June, the median sale price was $355,000, an increase of 7% or $24,250 compared to last year. The current median sold price is 2% higher than in May.

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


New Listings
174
Current Contracts
163
Sold Vs. List Price
99.7%
Months of Supply
1.7
Down -21%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -0.5%
Vs. Year Ago
Down -21%
Vs. Year Ago

Months of Supply
In June, there was 1.7 months of supply available in Bowie, compared to 2.2 in June 2018. That is a decrease of 21% 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 174 homes newly listed for sale in Bowie compared to 220 in June 2018, a decrease of 21%. There were 163 current contracts pending sale this June compared to 150 a year ago. The number of current contracts is 9% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Bowie was 99.7% of the average list price, which is 0.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 47, higher than the average last year, which was 32, an increase of 47%.

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.