The Long & Foster Market Minute

Focus On: Chevy Chase MD Housing Market June 2021

Zip Code(s): 20815
Units Sold
68
Active Inventory
78
Median Sale Price
$1,297,500
Days On Market
26
Up
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 50%
Vs. Year Ago
Down -35%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 68 sold this month in Chevy Chase MD Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 9 units or 10%. The total number of active inventory this June was 78 compared to 87 in June 2020. This month's total of 78 is higher than the previous month's total supply of available inventory of 72, an increase of 8%.

Median Sale Price
Last June, the median sale price for Chevy Chase MD Homes was $867,500. This June, the median sale price was approximately the same at $1,297,500. The current median sold price is 50% higher than in June 2020.

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


New Listings
72
Current Contracts
42
Sold Vs. List Price
101.8%
Months of Supply
1.1
Up 29%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 2.8%
Vs. Year Ago
Down -42%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Chevy Chase MD, compared to 2.0 in June 2020. That is a decrease of 42% 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 72 homes newly listed for sale in Chevy Chase MD compared to 56 in June 2020, an increase of 29%. There were 42 current contracts pending sale this June compared to 53 a year ago. The number of current contracts is 21% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Chevy Chase MD was 101.8% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 40, a decrease of 35%.

The Long & Foster Market Minute Chevy Chase MD are defined as properties listed in zip code/s 20815.
*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.