ADAMS MORGAN AND U STREET HOUSING MARKET DATA

There was a decrease in total units sold in August, with 51 sold this month in Adams Morgan and U Street Real Estate versus 61 last month, a decrease of 16%. This month's total units sold was lower than at this time last year, a decrease of 35% versus August 2023.

Versus last year, the total number of homes available this month is higher by 42 units or 28%. The total number of active inventory this August was 192 compared to 150 in August 2023. This month's total of 192 is lower than the previous month's total supply of available inventory of 205, a decrease of 6%.

Last August, the median sale price for Adams Morgan and U Street Homes was $517,000. This August, the median sale price was $516,000, which is similar compared to a year ago. The current median sold price is 29% 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.

In August, there was 3.8 months of supply available in Adams Morgan and U Street, compared to 1.9 in August 2023. That is an increase of 96% 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.

This month there were 80 homes newly listed for sale in Adams Morgan and U Street compared to 70 in August 2023, an increase of 14%. There were 45 current contracts pending sale this August compared to 57 a year ago. The number of current contracts remained stable as compared to last August.

In August, the average sale price in Adams Morgan and U Street was 97.8% of the average list price, which is 1.6% lower than at this time last year.

This month, the average number of days on market was 29, which is similar compared to a year ago.





FOCUS ON: ADAMS MORGAN AND U STREET HOUSING MARKET			AUGUST 2024

Zip Code(s): 20009
Units Sold 51	Active Inventory 192	Median Sale Price $516,000	Days On Market 29

Down -35% Vs. Year Ago	Up 28% Vs. Year Ago	No Change Vs. Year Ago	No Change Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 51 sold this month in Adams Morgan and U Street Real Estate versus 61 last month, a decrease of 16%. This month's total units sold was lower than at this time last year, a decrease of 35% versus August 2023.
Active Inventory Versus last year, the total number of homes available this month is higher by 42 units or 28%. The total number of active inventory this August was 192 compared to 150 in August 2023. This month's total of 192 is lower than the previous month's total supply of available inventory of 205, a decrease of 6%.
		Median Sale Price Last August, the median sale price for Adams Morgan and U Street Homes was $517,000. This August, the median sale price was $516,000, which is similar compared to a year ago. The current median sold price is 29% 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 80	Current Contracts 45	Sold Vs. List Price 97.8%	Months of Supply 3.8

Up 14% Vs. Year Ago	Down -21% Vs. Year Ago	Down -1.6% Vs. Year Ago	Up 96% Vs. Year Ago


		Months of Supply In August, there was 3.8 months of supply available in Adams Morgan and U Street, compared to 1.9 in August 2023. That is an increase of 96% 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 80 homes newly listed for sale in Adams Morgan and U Street compared to 70 in August 2023, an increase of 14%. There were 45 current contracts pending sale this August compared to 57 a year ago. The number of current contracts remained stable as compared to last August.
		Sale Price to List Price Ratio In August, the average sale price in Adams Morgan and U Street was 97.8% 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, which is similar compared to a year ago.


	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.
	Information 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.