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| FEBRUARY 2025 | |||
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| Zip Code(s): 20016 | |||
| Units Sold 32 |
Active Inventory 71 |
Median Sale Price $562,500 |
Days On Market 49 |
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| Up Vs. Year Ago |
Down -12% Vs. Year Ago |
Up Vs. Year Ago |
Down -11% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was an increase in total units sold in February, with 32 sold this month in American University Park and the Palisades Real Estate. This month's total units sold was higher than at this time last year, an increase from February 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 10 units or 12%. The total number of active inventory this February was 71 compared to 81 in February 2024. This month's total of 71 is lower than the previous month's total supply of available inventory of 79, a decrease of 10%. |
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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 February, the median sale price for American University Park and the Palisades Homes was $502,500. This February, the median sale price was $562,500, an increase of $60,000 compared to last year. The current median sold price is lower than in January. 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 33 |
Current Contracts 31 |
Sold Vs. List Price 99.3% |
Months of Supply 2.2 |
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| Down -37% Vs. Year Ago |
Down -3% Vs. Year Ago |
Down -0.6% Vs. Year Ago |
Down -62% Vs. Year Ago |
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Months of Supply
In February, there was 2.2 months of supply available in American University Park and the Palisades, compared to 5.8 in February 2024. That is a decrease of 62% 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 33 homes newly listed for sale in American University Park and the Palisades compared to 52 in February 2024, a decrease of 37%. There were 31 current contracts pending sale this February compared to 32 a year ago. The number of current contracts is 3% lower than last February. |
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Sale Price to List Price Ratio
In February, the average sale price in American University Park and the Palisades was 99.3% of the average list price, which is 0.6% lower than at this time last year. Days on Market
This month, the average number of days on market was 49, lower than the average last year, which was 55, a decrease of 11%. | |||
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American University Park and the Palisades are defined as properties listed in zip code/s 20016 and includes, but is not limited to these neighborhoods: Spring Valley, Wesley Heights, AU Park, and the Palisades. | ||
| *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. |
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