The Long & Foster Market Minute

FOCUS ON: LA PLATA, INDIAN HEAD, AND BRYANS ROAD HOUSING MARKET APRIL 2024

Zip Code(s): 20646, 20640, 20616, 20658, 20677, 20662, 20693 and 20675
Units Sold
71
Active Inventory
112
Median Sale Price
$469,900
Days On Market
29
Up 22%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 19%
Vs. Year Ago
Up 4%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 71 sold this month in La Plata, Indian Head, and Bryans Road Real Estate versus 61 last month, an increase of 16%. This month's total units sold was higher than at this time last year, an increase of 22% versus April 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 39 units or 26%. The total number of active inventory this April was 112 compared to 151 in April 2023. This month's total of 112 is lower than the previous month's total supply of available inventory of 125, a decrease of 10%.

Median Sale Price
Last April, the median sale price for La Plata, Indian Head, and Bryans Road Homes was $395,085. This April, the median sale price was $469,900, an increase of 19% or $74,815 compared to last year. The current median sold price is 3% lower than in March.

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


New Listings
92
Current Contracts
86
Sold Vs. List Price
100.0%
Months of Supply
1.6
Down -8%
Vs. Year Ago
Up 43%
Vs. Year Ago
No Change
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In April, there was 1.6 months of supply available in La Plata, Indian Head, and Bryans Road, compared to 2.6 in April 2023. That is a decrease of 39% 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 92 homes newly listed for sale in La Plata, Indian Head, and Bryans Road compared to 100 in April 2023, a decrease of 8%. There were 86 current contracts pending sale this April compared to 60 a year ago. The number of current contracts is 43% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in La Plata, Indian Head, and Bryans Road was 100.0% 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 29, higher than the average last year, which was 28, an increase of 4%.

The Long & Foster Market Minute La Plata, Indian Head, and Bryans Road are defined as properties listed in zip code/s 20646, 20640, 20616, 20658, 20677, 20662, 20693 and 20675.
*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.