The Long & Foster Market Minute

Focus On: Columbia Heights and Mt. Pleasant Housing Market August 2018

Zip Code(s): 20010
Units Sold
40
Active Inventory
59
Median Sale Price
$602,000
Days On Market
19
Up 3%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -37%
Vs. Year Ago

Units Sold
The number of units sold remained stable in August, with 40 sold this month in Columbia Heights and Mt. Pleasant Real Estate. This month's total units sold was higher than at this time last year, an increase of 21% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 8 units or 16%. The total number of active inventory this August was 59 compared to 51 in August 2017. This month's total of 59 is lower than the previous month's total supply of available inventory of 66, a decrease of 11%.

Median Sale Price
Last August, the median sale price for Columbia Heights and Mt. Pleasant Homes was $570,000. This August, the median sale price was $602,000, an increase of 6% or $32,000 compared to last year. The current median sold price is 9% 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.


New Listings
31
Current Contracts
30
Sold Vs. List Price
101.0%
Months of Supply
1.5
Down -21%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Up 13%
Vs. Year Ago

Months of Supply
In August, there was 1.5 months of supply available in Columbia Heights and Mt. Pleasant, compared to 1.3 in August 2017. That is an increase of 13% 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 31 homes newly listed for sale in Columbia Heights and Mt. Pleasant compared to 39 in August 2017, a decrease of 21%. There were 30 current contracts pending sale this August compared to 37 a year ago. The number of current contracts is 19% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Columbia Heights and Mt. Pleasant was 101.0% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 19, lower than the average last year, which was 30, a decrease of 37%.

The Long & Foster Market Minute Columbia Heights and Mt. Pleasant are defined as properties in zip code 20010.
*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.