The Long & Foster Market Minute

Focus On: Chevy Chase MD Housing Market July 2022

Zip Code(s): 20815
Units Sold
38
Active Inventory
65
Median Sale Price
$1,100,000
Days On Market
33
Down -5%
Vs. Year Ago
Down -33%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 32%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 38 sold this month in Chevy Chase MD Real Estate versus 50 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 5% versus July 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 32 units or 33%. The total number of active inventory this July was 65 compared to 97 in July 2021. This month's total of 65 is lower than the previous month's total supply of available inventory of 68, a decrease of 4%.

Median Sale Price
Last July, the median sale price for Chevy Chase MD Homes was $1,312,444. This July, the median sale price was $1,100,000, a decrease of 16% or $212,444 compared to last year. The current median sold price is 15% 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
47
Current Contracts
30
Sold Vs. List Price
100.5%
Months of Supply
1.7
Down -31%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Down -30%
Vs. Year Ago

Months of Supply
In July, there was 1.7 months of supply available in Chevy Chase MD, compared to 2.4 in July 2021. That is a decrease of 29% 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 47 homes newly listed for sale in Chevy Chase MD compared to 68 in July 2021, a decrease of 31%. There were 30 current contracts pending sale this July compared to 35 a year ago. The number of current contracts is 14% lower than last July.

Sale Price to List Price Ratio
In July, the average sale price in Chevy Chase MD was 100.5% of the average list price, which is 1.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 33, higher than the average last year, which was 25, an increase of 32%.

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.