The Long & Foster Market Minute

Focus On: Chevy Chase DC Housing Market June 2021

Zip Code(s): 20015
Units Sold
27
Active Inventory
23
Median Sale Price
$1,295,000
Days On Market
7
Up
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in June, with 27 sold this month in Chevy Chase DC Real Estate. This month's total units sold was higher than at this time last year, an increase from June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 2 units or 8%. The total number of active inventory this June was 23 compared to 25 in June 2020. This month's total of 23 is higher than the previous month's total supply of available inventory of 19, an increase of 21%.

Median Sale Price
Last June, the median sale price for Chevy Chase DC Homes was $1,099,500. This June, the median sale price was $1,295,000, an increase of 18% or $195,500 compared to last year. The current median sold price is 2% lower than in May.

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


New Listings
33
Current Contracts
26
Sold Vs. List Price
105.1%
Months of Supply
0.9
Up 27%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Chevy Chase DC, compared to 1.4 in June 2020. That is a decrease of 39% 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 33 homes newly listed for sale in Chevy Chase DC compared to 26 in June 2020, an increase of 27%. There were 26 current contracts pending sale this June compared to 28 a year ago. The number of current contracts remained stable as compared to last June.

Sale Price to List Price Ratio
In June, the average sale price in Chevy Chase DC was 105.1% 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 7, lower than the average last year, which was 15. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Chevy Chase DC is defined as properties in zip code 20015.
*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.