The Long & Foster Market Minute

Focus On: Bowie Housing Market August 2019

Zip Code(s): 20715, 20716, 20720 and 20721
Units Sold
138
Active Inventory
202
Median Sale Price
$350,100
Days On Market
32
Down -12%
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 138 sold this month in Bowie Real Estate versus 174 last month, a decrease of 21%. This month's total units sold was lower than at this time last year, a decrease of 12% versus August 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 126 units or 38%. The total number of active inventory this August was 202 compared to 328 in August 2018. This month's total of 202 is lower than the previous month's total supply of available inventory of 253, a decrease of 20%.

Median Sale Price
Last August, the median sale price for Bowie Homes was $344,500. This August, the median sale price was $350,100, an increase of 2% or $5,600 compared to last year. The current median sold price is 4% lower than in July.

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


New Listings
158
Current Contracts
157
Sold Vs. List Price
99.3%
Months of Supply
1.5
Down -10%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -30%
Vs. Year Ago

Months of Supply
In August, there was 1.5 months of supply available in Bowie, compared to 2.1 in August 2018. That is a decrease of 30% 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 158 homes newly listed for sale in Bowie compared to 175 in August 2018, a decrease of 10%. There were 157 current contracts pending sale this August compared to 141 a year ago. The number of current contracts is 11% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Bowie was 99.3% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 32, higher than the average last year, which was 28, an increase of 14%.

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.