Chevy Chase MD Housing Market Data

There was a decrease in total units sold in August, with 39 sold this month in Chevy Chase MD Real Estate versus 48 last month, a decrease of 19%. This month's total units sold was lower than at this time last year, a decrease of 5% versus August 2022.

Versus last year, the total number of homes available this month is lower by 3 units or 5%. The total number of active inventory this August was 58 compared to 61 in August 2022. This month's total of 58 is lower than the previous month's total supply of available inventory of 67, a decrease of 13%.

Last August, the median sale price for Chevy Chase MD Homes was $1,130,000. This August, the median sale price was $1,050,000, a decrease of 7% or $80,000 compared to last year. The current median sold price is 17% 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.

In August, there was 1.5 months of supply available in Chevy Chase MD. The amount of supply is similar compared to 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.

This month there were 34 homes newly listed for sale in Chevy Chase MD compared to 44 in August 2022, a decrease of 23%. There were 28 current contracts pending sale this August compared to 39 a year ago. The number of current contracts is 28% lower than last August.

In August, the average sale price in Chevy Chase MD was 100.8% of the average list price, which is 0.6% lower than at this time last year.

This month, the average number of days on market was 46, higher than the average last year, which was 17. This increase was impacted by the limited number of sales.





Focus On: Chevy Chase MD Housing Market			August 2023

Zip Code(s): 20815
Units Sold 39	Active Inventory 58	Median Sale Price $1,050,000	Days On Market 46

Down -5% Vs. Year Ago	Down -5% Vs. Year Ago	Down -7% Vs. Year Ago	Up Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 39 sold this month in Chevy Chase MD Real Estate versus 48 last month, a decrease of 19%. This month's total units sold was lower than at this time last year, a decrease of 5% versus August 2022.
Active Inventory Versus last year, the total number of homes available this month is lower by 3 units or 5%. The total number of active inventory this August was 58 compared to 61 in August 2022. This month's total of 58 is lower than the previous month's total supply of available inventory of 67, a decrease of 13%.
		Median Sale Price Last August, the median sale price for Chevy Chase MD Homes was $1,130,000. This August, the median sale price was $1,050,000, a decrease of 7% or $80,000 compared to last year. The current median sold price is 17% 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 34	Current Contracts 28	Sold Vs. List Price 100.8%	Months of Supply 1.5

Down -23% Vs. Year Ago	Down -28% Vs. Year Ago	Down -0.6% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In August, there was 1.5 months of supply available in Chevy Chase MD. The amount of supply is similar compared to 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 34 homes newly listed for sale in Chevy Chase MD compared to 44 in August 2022, a decrease of 23%. There were 28 current contracts pending sale this August compared to 39 a year ago. The number of current contracts is 28% lower than last August.
		Sale Price to List Price Ratio In August, the average sale price in Chevy Chase MD was 100.8% 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 46, higher than the average last year, which was 17. This increase was impacted by the limited number of sales.


	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.
	Information 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.