The Long & Foster Market Minute

Focus On: Olney, Derwood, and Brookeville Housing Market December 2019

Zip Code(s): 20832, 20855, 20833, 20860, 20862 and 20861
Units Sold
52
Active Inventory
75
Median Sale Price
$470,000
Days On Market
36
Up 6%
Vs. Year Ago
Down -46%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 9%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 52 sold this month in Olney, Derwood, and Brookeville Real Estate versus 54 last month, a decrease of 4%. This month's total units sold was higher than at this time last year, an increase of 6% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 63 units or 46%. The total number of active inventory this December was 75 compared to 138 in December 2018. This month's total of 75 is lower than the previous month's total supply of available inventory of 149, a decrease of 50%.

Median Sale Price
Last December, the median sale price for Olney, Derwood, and Brookeville Homes was $495,000. This December, the median sale price was approximately the same at $470,000. The current median sold price is 5% lower than in December 2018.

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
21
Sold Vs. List Price
98.7%
Months of Supply
1.4
Down -30%
Vs. Year Ago
Down -30%
Vs. Year Ago
No Change
Vs. Year Ago
Down -49%
Vs. Year Ago

Months of Supply
In December, there was 1.4 months of supply available in Olney, Derwood, and Brookeville, compared to 2.8 in December 2018. That is a decrease of 49% 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 Olney, Derwood, and Brookeville compared to 27 in December 2018, a decrease of 30%. There were 21 current contracts pending sale this December compared to 30 a year ago. The number of current contracts is 30% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Olney, Derwood, and Brookeville was 98.7% 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 36, higher than the average last year, which was 33, an increase of 9%.

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.