The Long & Foster Market Minute

Focus On: North Rockville Housing Market March 2021

Zip Code(s): 20850
Units Sold
49
Active Inventory
40
Median Sale Price
$545,000
Days On Market
32
Down -16%
Vs. Year Ago
Down -57%
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 49 sold this month in North Rockville Real Estate versus 42 last month, an increase of 17%. This month's total units sold was lower than at this time last year, a decrease of 16% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 53 units or 57%. The total number of active inventory this March was 40 compared to 93 in March 2020. This month's total of 40 is lower than the previous month's total supply of available inventory of 43, a decrease of 7%.

Median Sale Price
Last March, the median sale price for North Rockville Homes was $624,000. This March, the median sale price was $545,000, a decrease of 13% or $79,000 compared to last year. The current median sold price is 4% 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
79
Current Contracts
76
Sold Vs. List Price
102.7%
Months of Supply
0.8
Down -13%
Vs. Year Ago
Up 46%
Vs. Year Ago
Up 3.2%
Vs. Year Ago
Down -49%
Vs. Year Ago

Months of Supply
In March, there was 0.8 months of supply available in North Rockville, compared to 1.6 in March 2020. That is a decrease of 49% 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 79 homes newly listed for sale in North Rockville compared to 91 in March 2020, a decrease of 13%. There were 76 current contracts pending sale this March compared to 52 a year ago. The number of current contracts is 46% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in North Rockville was 102.7% of the average list price, which is 3.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 32, lower than the average last year, which was 38, a decrease of 16%.

The Long & Foster Market Minute North Rockville are defined as properties listed in zip code/s 20850 .
*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.