The Long & Foster Market Minute

Focus On: Rockville Housing Market March 2024

Zip Code(s): 20850, 20851, 20852, 20853 and 20896
Units Sold
113
Active Inventory
114
Median Sale Price
$628,000
Days On Market
21
Up 1%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -9%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 113 sold this month in Rockville Real Estate versus 90 last month, an increase of 26%. This month's total units sold was higher than at this time last year, an increase of 1% versus March 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 6%. The total number of active inventory this March was 114 compared to 121 in March 2023. This month's total of 114 is lower than the previous month's total supply of available inventory of 130, a decrease of 12%.

Median Sale Price
Last March, the median sale price for Rockville Homes was $549,950. This March, the median sale price was $628,000, an increase of 14% or $78,050 compared to last year. The current median sold price is 15% 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
138
Current Contracts
138
Sold Vs. List Price
102.0%
Months of Supply
1.0
Down -12%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In March, there was 1.0 months of supply available in Rockville. The amount of supply is similar compared to 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 138 homes newly listed for sale in Rockville compared to 157 in March 2023, a decrease of 12%. There were 138 current contracts pending sale this March compared to 132 a year ago. The number of current contracts is 5% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Rockville was 102.0% of the average list price, which is 1.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 23, a decrease of 9%.

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.