The Long & Foster Market Minute

Focus On: Columbia Heights and Mt. Pleasant Housing Market August 2017

Zip Code(s): 20010
Units Sold
38
Active Inventory
41
Median Sale Price
$565,000
Days On Market
31
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 3%
Vs. Year Ago
Down -33%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 38 sold this month in Columbia Heights and Mt. Pleasant Real Estate versus 51 last month, a decrease of 25%. This month's total units sold was higher than at this time last year, an increase of 3% versus August 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 33%. The total number of active inventory this August was 41 compared to 61 in August 2016. This month's total of 41 is lower than the previous month's total supply of available inventory of 62, a decrease of 34%.

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Median Sale Price
Last August, the median sale price for Columbia Heights and Mt. Pleasant Homes was $684,500. This August, the median sale price was $565,000, a decrease of 17% or $119,500 compared to last year. The current median sold price is 3% higher 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
38
Current Contracts
38
Sold Vs. List Price
99.7%
Months of Supply
1.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 6%
Vs. Year Ago
Up 31%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Down -35%
Vs. Year Ago

Months of Supply
In August, there was 1.1 months of supply available in Columbia Heights and Mt. Pleasant, compared to 1.6 in August 2016. That is a decrease of 35% 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.

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New Listings & Current Contracts
This month there were 38 homes newly listed for sale in Columbia Heights and Mt. Pleasant compared to 36 in August 2016, an increase of 6%. There were 38 current contracts pending sale this August compared to 29 a year ago. The number of current contracts remained stable as compared to last August.

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Sale Price to List Price Ratio
In August, the average sale price in Columbia Heights and Mt. Pleasant was 99.7% of the average list price, which is 0.9% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 31, higher than the average last year, which was 20. This increase was impacted by the limited number of sales.

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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.