The Long & Foster Market Minute

Focus On: Rockville Housing Market July 2019

Zip Code(s): 20850, 20851, 20852, 20853 and 20896
Units Sold
186
Active Inventory
321
Median Sale Price
$470,000
Days On Market
38
Up 27%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 27%
Vs. Year Ago

Units Sold
There was an increase in total units sold in July, with 186 sold this month in Rockville Real Estate versus 182 last month, an increase of 2%. This month's total units sold was higher than at this time last year, an increase of 27% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 3 units or 1%. The total number of active inventory this July was 321 compared to 324 in July 2018. This month's total of 321 is lower than the previous month's total supply of available inventory of 379, a decrease of 15%.

Median Sale Price
Last July, the median sale price for Rockville Homes was $479,900. This July, the median sale price was $470,000, a decrease of 2% or $9,900 compared to last year. The current median sold price is 1% lower than in June.

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


New Listings
177
Current Contracts
157
Sold Vs. List Price
99.2%
Months of Supply
1.7
Down -12%
Vs. Year Ago
Up 15%
Vs. Year Ago
No Change
Vs. Year Ago
Down -21%
Vs. Year Ago

Months of Supply
In July, there was 1.7 months of supply available in Rockville, compared to 2.2 in July 2018. That is a decrease of 22% 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 177 homes newly listed for sale in Rockville compared to 201 in July 2018, a decrease of 12%. There were 157 current contracts pending sale this July compared to 137 a year ago. The number of current contracts is 15% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Rockville was 99.2% 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 38, higher than the average last year, which was 30, an increase of 27%.

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.