The Long & Foster Market Minute

Focus On: Bowie Housing Market March 2021

Zip Code(s): 20715, 20716, 20720 and 20721
Units Sold
127
Active Inventory
46
Median Sale Price
$430,000
Days On Market
13
Up 8%
Vs. Year Ago
Down -69%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -65%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 127 sold this month in Bowie Real Estate versus 109 last month, an increase of 17%. This month's total units sold was higher than at this time last year, an increase of 8% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 102 units or 69%. The total number of active inventory this March was 46 compared to 148 in March 2020. This month's total of 46 is lower than the previous month's total supply of available inventory of 69, a decrease of 33%.

Median Sale Price
Last March, the median sale price for Bowie Homes was $365,250. This March, the median sale price was $430,000, an increase of 18% or $64,750 compared to last year. The current median sold price is 6% 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
161
Current Contracts
166
Sold Vs. List Price
102.8%
Months of Supply
0.4
Up 10%
Vs. Year Ago
Up 43%
Vs. Year Ago
Up 3.3%
Vs. Year Ago
Down -71%
Vs. Year Ago

Months of Supply
In March, there was 0.4 months of supply available in Bowie, compared to 1.3 in March 2020. That is a decrease of 71% 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 161 homes newly listed for sale in Bowie compared to 147 in March 2020, an increase of 10%. There were 166 current contracts pending sale this March compared to 116 a year ago. The number of current contracts is 43% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Bowie was 102.8% of the average list price, which is 3.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 13, lower than the average last year, which was 37, a decrease of 65%.

The Long & Foster Market Minute Bowie are defined as properties listed in zip code/s 20715, 20716, 20720 and 20721.
*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.