The Long & Foster Market Minute

Focus On: Rockville Housing Market March 2019

Zip Code(s): 20850, 20851, 20852, 20853 and 20896
Units Sold
114
Active Inventory
220
Median Sale Price
$445,000
Days On Market
48
Down -4%
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 37%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 114 sold this month in Rockville Real Estate versus 100 last month, an increase of 14%. This month's total units sold was lower than at this time last year, a decrease of 4% versus March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 50 units or 19%. The total number of active inventory this March was 220 compared to 270 in March 2018. This month's total of 220 is lower than the previous month's total supply of available inventory of 225, a decrease of 2%.

Median Sale Price
Last March, the median sale price for Rockville Homes was $455,000. This March, the median sale price was $445,000, a decrease of 2% or $10,000 compared to last year. The current median sold price is 7% higher than in February.

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


New Listings
226
Current Contracts
174
Sold Vs. List Price
99.1%
Months of Supply
1.9
Down -3%
Vs. Year Ago
Up 12%
Vs. Year Ago
No Change
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In March, there was 1.9 months of supply available in Rockville, compared to 2.3 in March 2018. That is a decrease of 15% 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 226 homes newly listed for sale in Rockville compared to 234 in March 2018, a decrease of 3%. There were 174 current contracts pending sale this March compared to 155 a year ago. The number of current contracts is 12% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Rockville was 99.1% 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 48, higher than the average last year, which was 35, an increase of 37%.

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.