The Long & Foster Market Minute

Focus On: Logan Circle and Dupont Housing Market March 2018

Zip Code(s): 20005 and 20036
Units Sold
28
Active Inventory
65
Median Sale Price
$415,000
Days On Market
35
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down
Vs. Year Ago
Up 27%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 28 sold this month in Logan Circle and Dupont Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2017.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 14 units or 27%. The total number of active inventory this March was 65 compared to 51 in March 2017. This month's total of 65 is higher than the previous month's total supply of available inventory of 56, an increase of 16%.

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Median Sale Price
Last March, the median sale price for Logan Circle and Dupont Homes was $430,450. This March, the median sale price was $415,000, a decrease of 4% or $15,450 compared to last year. The current median sold price is 24% lower than in February.

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
63
Current Contracts
32
Sold Vs. List Price
98.2%
Months of Supply
2.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -2%
Vs. Year Ago
Down -18%
Vs. Year Ago
Down -2.1%
Vs. Year Ago
Up 81%
Vs. Year Ago

Months of Supply
In March, there was 2.3 months of supply available in Logan Circle and Dupont, compared to 1.3 in March 2017. That is an increase of 82% 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 63 homes newly listed for sale in Logan Circle and Dupont compared to 64 in March 2017, a decrease of 2%. There were 32 current contracts pending sale this March compared to 39 a year ago. The number of current contracts is 18% lower than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Logan Circle and Dupont was 98.2% of the average list price, which is 2.1% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 35, higher than the average last year, which was 18. This increase was impacted by the limited number of sales.

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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.