The Long & Foster Market Minute

Focus On: Adams Morgan and U Street Housing Market April 2020

Zip Code(s): 20009
Units Sold
66
Active Inventory
128
Median Sale Price
$682,500
Days On Market
25
Down
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 26%
Vs. Year Ago
Up 4%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 66 sold this month in Adams Morgan and U Street Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 6 units or 4%. The total number of active inventory this April was 128 compared to 134 in April 2019. This month's total of 128 is higher than the previous month's total supply of available inventory of 119, an increase of 8%.

Median Sale Price
Last April, the median sale price for Adams Morgan and U Street Homes was $540,000. This April, the median sale price was $682,500, an increase of $142,500 compared to last year. The current median sold price is higher than in March.

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


New Listings
84
Current Contracts
45
Sold Vs. List Price
100.0%
Months of Supply
1.9
Down -38%
Vs. Year Ago
Down -62%
Vs. Year Ago
Down -1.4%
Vs. Year Ago
Up 49%
Vs. Year Ago

Months of Supply
In April, there was 1.9 months of supply available in Adams Morgan and U Street, compared to 1.3 in April 2019. That is an increase 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 84 homes newly listed for sale in Adams Morgan and U Street compared to 136 in April 2019, a decrease of 38%. There were 45 current contracts pending sale this April compared to 118 a year ago. The number of current contracts is 62% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Adams Morgan and U Street was 100.0% of the average list price, which is 1.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 25, higher than the average last year, which was 24, an increase of 4%.

The Long & Foster Market Minute Adams Morgan and U Street are defined as properties in zip code 20009
*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.