Olney, Derwood, and Brookeville Housing Market Data

There was an increase in total units sold in February, with 30 sold this month in Olney, Derwood, and Brookeville Real Estate versus 26 last month, an increase of 15%. This month's total units sold was lower than at this time last year, a decrease of 32% versus February 2018.

Versus last year, the total number of homes available this month is lower by 15 units or 13%. The total number of active inventory this February was 102 compared to 117 in February 2018. This month's total of 102 is lower than the previous month's total supply of available inventory of 103, a decrease of 1%.

Last February, the median sale price for Olney, Derwood, and Brookeville Homes was $465,000. This February, the median sale price was $482,750, an increase of 4% or $17,750 compared to last year. The current median sold price is 3% lower than in January.

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

In February, there was 3.4 months of supply available in Olney, Derwood, and Brookeville, compared to 2.7 in February 2018. That is an increase of 28% 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.

This month there were 63 homes newly listed for sale in Olney, Derwood, and Brookeville compared to 79 in February 2018, a decrease of 20%. There were 45 current contracts pending sale this February compared to 49 a year ago. The number of current contracts is 8% lower than last February.

In February, the average sale price in Olney, Derwood, and Brookeville was 99.4% of the average list price, which is 0.7% higher than at this time last year.

This month, the average number of days on market was 51, higher than the average last year, which was 38, an increase of 34%.





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

Zip Code(s): 20832, 20855, 20833, 20860, 20862 and 20861
Units Sold 30	Active Inventory 102	Median Sale Price $482,750	Days On Market 51

Down -32% Vs. Year Ago	Down -13% Vs. Year Ago	Up 4% Vs. Year Ago	Up 34% Vs. Year Ago


		Units Sold There was an increase in total units sold in February, with 30 sold this month in Olney, Derwood, and Brookeville Real Estate versus 26 last month, an increase of 15%. This month's total units sold was lower than at this time last year, a decrease of 32% versus February 2018.
Active Inventory Versus last year, the total number of homes available this month is lower by 15 units or 13%. The total number of active inventory this February was 102 compared to 117 in February 2018. This month's total of 102 is lower than the previous month's total supply of available inventory of 103, a decrease of 1%.
		Median Sale Price Last February, the median sale price for Olney, Derwood, and Brookeville Homes was $465,000. This February, the median sale price was $482,750, an increase of 4% or $17,750 compared to last year. The current median sold price is 3% lower than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 63	Current Contracts 45	Sold Vs. List Price 99.4%	Months of Supply 3.4

Down -20% Vs. Year Ago	Down -8% Vs. Year Ago	Up 0.7% Vs. Year Ago	Up 28% Vs. Year Ago


		Months of Supply In February, there was 3.4 months of supply available in Olney, Derwood, and Brookeville, compared to 2.7 in February 2018. That is an increase of 28% 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 63 homes newly listed for sale in Olney, Derwood, and Brookeville compared to 79 in February 2018, a decrease of 20%. There were 45 current contracts pending sale this February compared to 49 a year ago. The number of current contracts is 8% lower than last February.
		Sale Price to List Price Ratio In February, the average sale price in Olney, Derwood, and Brookeville was 99.4% of the average list price, which is 0.7% higher than at this time last year. Days on Market This month, the average number of days on market was 51, higher than the average last year, which was 38, an increase of 34%.


	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.
	Information 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.