The Long & Foster Market Minute

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

Zip Code(s): 20832, 20855, 20833, 20860, 20862 and 20861
Units Sold
87
Active Inventory
132
Median Sale Price
$515,000
Days On Market
27
Up 1%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 23%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 87 sold this month in Olney, Derwood, and Brookeville Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 47 units or 26%. The total number of active inventory this June was 132 compared to 179 in June 2018. This month's total of 132 is lower than the previous month's total supply of available inventory of 174, a decrease of 24%.

Median Sale Price
Last June, the median sale price for Olney, Derwood, and Brookeville Homes was $482,500. This June, the median sale price was $515,000, an increase of 7% or $32,500 compared to last year. The current median sold price is 1% lower than in May.

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


New Listings
89
Current Contracts
95
Sold Vs. List Price
99.6%
Months of Supply
1.5
Down -6%
Vs. Year Ago
Up 27%
Vs. Year Ago
No Change
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In June, there was 1.5 months of supply available in Olney, Derwood, and Brookeville, compared to 2.1 in June 2018. That is a decrease of 27% 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 89 homes newly listed for sale in Olney, Derwood, and Brookeville compared to 95 in June 2018, a decrease of 6%. There were 95 current contracts pending sale this June compared to 75 a year ago. The number of current contracts is 27% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Olney, Derwood, and Brookeville was 99.6% 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 27, higher than the average last year, which was 22, an increase of 23%.

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.