The Long & Foster Market Minute

Focus On: North Rockville Housing Market January 2024

Zip Code(s): 20850
Units Sold
16
Active Inventory
41
Median Sale Price
$568,500
Days On Market
27
No Change
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 16 sold this month in North Rockville Real Estate, a decrease of 54%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is higher by 6 units or 17%. The total number of active inventory this January was 41 compared to 35 in January 2023. This month's total of 41 is lower than the previous month's total supply of available inventory of 43, a decrease of 5%.

Median Sale Price
Last January, the median sale price for North Rockville Homes was $510,000. This January, the median sale price was $568,500, an increase of 11% or $58,500 compared to last year. The current median sold price is 3% higher than in December.

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


New Listings
38
Current Contracts
34
Sold Vs. List Price
99.9%
Months of Supply
2.6
Up 23%
Vs. Year Ago
No Change
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Up 17%
Vs. Year Ago

Months of Supply
In January, there was 2.6 months of supply available in North Rockville, compared to 2.2 in January 2023. That is an increase of 17% 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 38 homes newly listed for sale in North Rockville compared to 31 in January 2023, an increase of 23%. There were 34 current contracts pending sale this January, consistent with the volume a year ago. The number of current contracts is 31% higher than last month.

Sale Price to List Price Ratio
In January, the average sale price in North Rockville was 99.9% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 62. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute North Rockville are defined as properties listed in zip code/s 20850 .
*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.