The Long & Foster Market Minute

Focus On: Adams Morgan and U Street Housing Market December 2022

Zip Code(s): 20009
Units Sold
42
Active Inventory
132
Median Sale Price
$623,250
Days On Market
41
Down
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 41%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 42 sold this month in Adams Morgan and U Street Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1 units or 1%. The total number of active inventory this December was 132 compared to 133 in December 2021. This month's total of 132 is lower than the previous month's total supply of available inventory of 168, a decrease of 21%.

Median Sale Price
Last December, the median sale price for Adams Morgan and U Street Homes was $637,500. This December, the median sale price was $623,250, a decrease of 2% or $14,250 compared to last year. The current median sold price is 4% higher than in November.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
49
Current Contracts
30
Sold Vs. List Price
96.5%
Months of Supply
3.1
Up 17%
Vs. Year Ago
Down -43%
Vs. Year Ago
Down -2.9%
Vs. Year Ago
Up 99%
Vs. Year Ago

Months of Supply
In December, there was 3.1 months of supply available in Adams Morgan and U Street, compared to 1.6 in December 2021. That is an increase of 98% 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 49 homes newly listed for sale in Adams Morgan and U Street compared to 42 in December 2021, an increase of 17%. There were 30 current contracts pending sale this December compared to 53 a year ago. The number of current contracts is 43% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Adams Morgan and U Street was 96.5% of the average list price, which is 2.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 41, higher than the average last year, which was 29, an increase of 41%.

The Long & Foster Market Minute Adams Morgan and U Street are defined as properties in zip code 20009
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.