The Long & Foster Market Minute

Focus On: Logan Circle and Dupont Housing Market August 2018

Zip Code(s): 20005 and 20036
Units Sold
46
Active Inventory
81
Median Sale Price
$525,000
Days On Market
29
Up 21%
Vs. Year Ago
Up 108%
Vs. Year Ago
Up 27%
Vs. Year Ago
Up 12%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 46 sold this month in Logan Circle and Dupont Real Estate versus 37 last month, an increase of 24%. 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 42 units or 108%. The total number of active inventory this August was 81 compared to 39 in August 2017. This month's total of 81 is lower than the previous month's total supply of available inventory of 92, a decrease of 12%.

Median Sale Price
Last August, the median sale price for Logan Circle and Dupont Homes was $415,000. This August, the median sale price was $525,000, an increase of $110,000 compared to last year. The current median sold price is 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.


New Listings
42
Current Contracts
31
Sold Vs. List Price
99.4%
Months of Supply
1.8
Up 24%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -1.5%
Vs. Year Ago
Up 72%
Vs. Year Ago

Months of Supply
In August, there was 1.8 months of supply available in Logan Circle and Dupont, compared to 1.0 in August 2017. That is an increase of 72% 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 42 homes newly listed for sale in Logan Circle and Dupont compared to 34 in August 2017, an increase of 24%. There were 31 current contracts pending sale this August compared to 35 a year ago. The number of current contracts is 11% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Logan Circle and Dupont was 99.4% of the average list price, which is 1.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 29, higher than the average last year, which was 26, an increase of 12%.

The Long & Foster Market Minute Logan Circle and Dupont are defined as properties in zip codes 20005 and 20036.
*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.