The Long & Foster Market Minute

Focus On: Chevy Chase MD Housing Market May 2020

Zip Code(s): 20815
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -25%
Vs. Year Ago
Down -11%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 21 sold this month in Chevy Chase MD Real Estate. This month's total units sold was lower than at this time last year, a decrease from May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 29 units or 25%. The total number of active inventory this May was 89 compared to 118 in May 2019. This month's total of 89 is lower than the previous month's total supply of available inventory of 93, a decrease of 4%.

Median Sale Price
Last May, the median sale price for Chevy Chase MD Homes was $1,071,000. This May, the median sale price was $955,000, a decrease of 11% or $116,000 compared to last year. The current median sold price is 20% lower than in April.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -47%
Vs. Year Ago
Down -37%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Up 130%
Vs. Year Ago

Months of Supply
In May, there was 4.2 months of supply available in Chevy Chase MD, compared to 1.8 in May 2019. That is an increase of 130% 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 48 homes newly listed for sale in Chevy Chase MD compared to 90 in May 2019, a decrease of 47%. There were 40 current contracts pending sale this May compared to 63 a year ago. The number of current contracts is 37% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Chevy Chase MD was 100.9% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 32, which is similar compared to a year ago.

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.