The Long & Foster Market Minute

Focus On: Adams Morgan and U Street Housing Market August 2017

Zip Code(s): 20009
Units Sold
91
Active Inventory
101
Median Sale Price
$520,500
Days On Market
23
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -5%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 91 sold this month in Adams Morgan and U Street Real Estate versus 116 last month, a decrease of 22%. This month's total units sold was lower than at this time last year, a decrease of 5% versus August 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 9 units or 8%. The total number of active inventory this August was 101 compared to 110 in August 2016. This month's total of 101 is lower than the previous month's total supply of available inventory of 125, a decrease of 19%.

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Median Sale Price
Last August, the median sale price for Adams Morgan and U Street Homes was $562,370. This August, the median sale price was $520,500, a decrease of 7% or $41,870 compared to last year. The current median sold price is 8% lower than in July.

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

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New Listings
60
Current Contracts
58
Sold Vs. List Price
100.0%
Months of Supply
1.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -18%
Vs. Year Ago
Down -16%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In August, there was 1.1 months of supply available in Adams Morgan and U Street. The amount of supply is similar compared to 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.

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New Listings & Current Contracts
This month there were 60 homes newly listed for sale in Adams Morgan and U Street compared to 73 in August 2016, a decrease of 18%. There were 58 current contracts pending sale this August compared to 69 a year ago. The number of current contracts is 16% lower than last August.

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Sale Price to List Price Ratio
In August, the average sale price in Adams Morgan and U Street was 100.0% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 26, a decrease of 12%.

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The Long & Foster Market Minute *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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.