The Long & Foster Market Minute

Focus On: Olney, Derwood, and Brookeville Housing Market April 2020

Zip Code(s): 20832, 20855, 20833, 20860, 20862 and 20861
Units Sold
63
Active Inventory
83
Median Sale Price
$549,000
Days On Market
14
Down -9%
Vs. Year Ago
Down -49%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -42%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 63 sold this month in Olney, Derwood, and Brookeville Real Estate versus 48 last month, an increase of 31%. This month's total units sold was lower than at this time last year, a decrease of 9% versus April 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 80 units or 49%. The total number of active inventory this April was 83 compared to 163 in April 2019. This month's total of 83 is higher than the previous month's total supply of available inventory of 76, an increase of 9%.

Median Sale Price
Last April, the median sale price for Olney, Derwood, and Brookeville Homes was $469,000. This April, the median sale price was $549,000, an increase of 17% or $80,000 compared to last year. The current median sold price is 9% higher 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
64
Current Contracts
45
Sold Vs. List Price
99.9%
Months of Supply
1.3
Down -44%
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -44%
Vs. Year Ago

Months of Supply
In April, there was 1.3 months of supply available in Olney, Derwood, and Brookeville, compared to 2.4 in April 2019. That is a decrease of 44% 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 64 homes newly listed for sale in Olney, Derwood, and Brookeville compared to 115 in April 2019, a decrease of 44%. There were 45 current contracts pending sale this April compared to 64 a year ago. The number of current contracts is 30% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Olney, Derwood, and Brookeville was 99.9% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 24, a decrease of 42%.

The Long & Foster Market Minute Olney, Derwood, and Brookeville are defined as properties listed in zip code/s 20832, 20855, 20853, 20860, 20862 and 20861.
*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.