The Long & Foster Market Minute

Focus On: Del Ray/Rosemont Housing Market March 2021

Zip Code(s): 22301
Units Sold
38
Active Inventory
9
Median Sale Price
$907,500
Days On Market
12
Up
Vs. Year Ago
Down -55%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 20%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 38 sold this month in Del Ray/Rosemont Real Estate. This month's total units sold was higher than at this time last year, an increase from March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 11 units or 55%. The total number of active inventory this March was 9 compared to 20 in March 2020. This month's total of 9 is lower than the previous month's total supply of available inventory of 18, a decrease of 50%.

Median Sale Price
Last March, the median sale price for Del Ray/Rosemont Homes was $795,000. This March, the median sale price was $907,500, an increase of 14% or $112,500 compared to last year. The current median sold price is 13% lower 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
28
Current Contracts
33
Sold Vs. List Price
101.6%
Months of Supply
0.2
Up 8%
Vs. Year Ago
Up 94%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -82%
Vs. Year Ago

Months of Supply
In March, there was 0.2 months of supply available in Del Ray/Rosemont, compared to 1.3 in March 2020. That is a decrease of 82% 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 28 homes newly listed for sale in Del Ray/Rosemont compared to 26 in March 2020, an increase of 8%. There were 33 current contracts pending sale this March compared to 17 a year ago. The number of current contracts is 94% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Del Ray/Rosemont was 101.6% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 12, higher than the average last year, which was 10, an increase of 20%.

The Long & Foster Market Minute Del Ray/Rosemont are defined as properties listed in zip code/s 22301.
*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.