The Long & Foster Market Minute

Focus On: Chevy Chase MD Housing Market September 2019

Zip Code(s): 20815
Units Sold
32
Active Inventory
115
Median Sale Price
$1,264,500
Days On Market
36
Up 28%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 32 sold this month in Chevy Chase MD Real Estate versus 42 last month, a decrease of 24%. This month's total units sold was higher than at this time last year, an increase of 28% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 31 units or 21%. The total number of active inventory this September was 115 compared to 146 in September 2018. This month's total of 115 is higher than the previous month's total supply of available inventory of 95, an increase of 21%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last September, the median sale price for Chevy Chase MD Homes was $925,000. This September, the median sale price was $1,264,500, an increase of $339,500 compared to last year. The current median sold price is higher than in August.

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


New Listings
79
Current Contracts
36
Sold Vs. List Price
97.9%
Months of Supply
3.6
Up 41%
Vs. Year Ago
Up 50%
Vs. Year Ago
No Change
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In September, there was 3.6 months of supply available in Chevy Chase MD, compared to 5.8 in September 2018. That is a decrease of 38% 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 79 homes newly listed for sale in Chevy Chase MD compared to 56 in September 2018, an increase of 41%. There were 36 current contracts pending sale this September compared to 24 a year ago. The number of current contracts is 50% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Chevy Chase MD was 97.9% 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 36, lower than the average last year, which was 42, a decrease of 14%.

The Long & Foster Market Minute Chevy Chase MD are defined as properties listed in zip code/s 20815.
*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.