The Long & Foster Market Minute

Focus On: Logan Circle and Dupont Housing Market August 2017

Zip Code(s): 20005 and 20036
Units Sold
36
Active Inventory
35
Median Sale Price
$415,000
Days On Market
27
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 6%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 36 sold this month in Logan Circle and Dupont Real Estate versus 43 last month, a decrease of 16%. This month's total units sold was higher than at this time last year, an increase of 6% 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 20%. The total number of active inventory this August was 35 compared to 44 in August 2016. This month's total of 35 is lower than the previous month's total supply of available inventory of 51, a decrease of 31%.

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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last August, the median sale price for Logan Circle and Dupont Homes was $397,000. This August, the median sale price was $415,000, an increase of $18,000 compared to last year. The current median sold price is 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
30
Current Contracts
32
Sold Vs. List Price
100.8%
Months of Supply
1.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -6%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In August, there was 1.0 months of supply available in Logan Circle and Dupont, compared to 1.3 in August 2016. That is a decrease of 25% 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 30 homes newly listed for sale in Logan Circle and Dupont compared to 32 in August 2016, a decrease of 6%. There were 32 current contracts pending sale this August compared to 34 a year ago. The number of current contracts is 6% lower than last August.

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Sale Price to List Price Ratio
In August, the average sale price in Logan Circle and Dupont was 100.8% of the average list price, which is 0.7% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 27, higher than the average last year, which was 17. 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.