The Long & Foster Market Minute

Focus On: Rockville Housing Market May 2020

Zip Code(s): 20850, 20851, 20852, 20853 and 20896
Units Sold
115
Active Inventory
211
Median Sale Price
$470,000
Days On Market
17
Down -34%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -41%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 115 sold this month in Rockville Real Estate versus 142 last month, a decrease of 19%. This month's total units sold was lower than at this time last year, a decrease of 34% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 145 units or 41%. The total number of active inventory this May was 211 compared to 356 in May 2019. This month's total of 211 is lower than the previous month's total supply of available inventory of 225, a decrease of 6%.

Median Sale Price
Last May, the median sale price for Rockville Homes was $461,675. This May, the median sale price was $470,000, an increase of 2% or $8,325 compared to last year. The current median sold price is 10% lower than in April.

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


New Listings
180
Current Contracts
164
Sold Vs. List Price
98.9%
Months of Supply
1.8
Down -43%
Vs. Year Ago
Down -17%
Vs. Year Ago
No Change
Vs. Year Ago
Down -11%
Vs. Year Ago

Months of Supply
In May, there was 1.8 months of supply available in Rockville, compared to 2.0 in May 2019. That is a decrease of 10% 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 180 homes newly listed for sale in Rockville compared to 315 in May 2019, a decrease of 43%. There were 164 current contracts pending sale this May compared to 198 a year ago. The number of current contracts is 17% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Rockville was 98.9% 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 17, lower than the average last year, which was 29, a decrease of 41%.

The Long & Foster Market Minute Rockville are defined as properties listed in zip code/s 20850, 20851, 20852, 20853 and 20896.
*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.