The Long & Foster Market Minute

Focus On: North Rockville Housing Market December 2022

Zip Code(s): 20850
Units Sold
34
Active Inventory
36
Median Sale Price
$619,500
Days On Market
25
Down
Vs. Year Ago
No Change
Vs. Year Ago
Up 30%
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in December, with 34 sold this month in North Rockville Real Estate. This month's total units sold was lower than at this time last year, a decrease from December 2021.

Active Inventory
The total number of homes available this month is 36 units, which is similar compared to a year ago. This month's total of 36 is lower than the previous month's total supply of available inventory of 44, a decrease of 18%.

Median Sale Price
Last December, the median sale price for North Rockville Homes was $475,000. This December, the median sale price was approximately the same at $619,500. The current median sold price is 30% higher than in December 2021.

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


New Listings
19
Current Contracts
15
Sold Vs. List Price
101.2%
Months of Supply
1.1
Up 36%
Vs. Year Ago
Down -55%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Up 56%
Vs. Year Ago

Months of Supply
In December, there was 1.1 months of supply available in North Rockville, compared to 0.7 in December 2021. That is an increase of 56% 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 19 homes newly listed for sale in North Rockville compared to 14 in December 2021, an increase of 36%. There were 15 current contracts pending sale this December compared to 33 a year ago. The number of current contracts is 55% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in North Rockville was 101.2% 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 25, lower than the average last year, which was 32, a decrease of 22%.

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.