AMERICAN UNIVERSITY PARK AND THE PALISADES HOUSING MARKET DATA

There was a decrease in total units sold in July, with 43 sold this month in American University Park and the Palisades Real Estate versus 54 last month, a decrease of 20%. This month's total units sold was higher than at this time last year, an increase of 5% versus July 2023.

Versus last year, the total number of homes available this month is higher by 7 units or 10%. The total number of active inventory this July was 75 compared to 68 in July 2023. This month's total of 75 is lower than the previous month's total supply of available inventory of 107, a decrease of 30%.

Last July, the median sale price for American University Park and the Palisades Homes was $1,235,000. This July, the median sale price was $840,000, a decrease of $395,000 compared to last year. The current median sold price is lower than in June.

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

In July, there was 1.7 months of supply available in American University Park and the Palisades. The amount of supply is similar compared to 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 29 homes newly listed for sale in American University Park and the Palisades compared to 35 in July 2023, a decrease of 17%. There were 34 current contracts pending sale this July compared to 39 a year ago. The number of current contracts is 13% lower than last July.

In July, the average sale price in American University Park and the Palisades was 97.7% of the average list price, which is 3.9% lower than at this time last year.

This month, the average number of days on market was 45, higher than the average last year, which was 18, an increase of 150%.





FOCUS ON: AMERICAN UNIVERSITY PARK AND THE PALISADES HOUSING MARKET			JULY 2024

Zip Code(s): 20016
Units Sold 43	Active Inventory 75	Median Sale Price $840,000	Days On Market 45

Up 5% Vs. Year Ago	Up 10% Vs. Year Ago	Down -32% Vs. Year Ago	Up 150% Vs. Year Ago


		Units Sold There was a decrease in total units sold in July, with 43 sold this month in American University Park and the Palisades Real Estate versus 54 last month, a decrease of 20%. This month's total units sold was higher than at this time last year, an increase of 5% versus July 2023.
Active Inventory Versus last year, the total number of homes available this month is higher by 7 units or 10%. The total number of active inventory this July was 75 compared to 68 in July 2023. This month's total of 75 is lower than the previous month's total supply of available inventory of 107, a decrease of 30%.
		Median Sale Price Last July, the median sale price for American University Park and the Palisades Homes was $1,235,000. This July, the median sale price was $840,000, a decrease of $395,000 compared to last year. The current median sold price is lower than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 29	Current Contracts 34	Sold Vs. List Price 97.7%	Months of Supply 1.7

Down -17% Vs. Year Ago	Down -13% Vs. Year Ago	Down -3.8% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In July, there was 1.7 months of supply available in American University Park and the Palisades. The amount of supply is similar compared to 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 29 homes newly listed for sale in American University Park and the Palisades compared to 35 in July 2023, a decrease of 17%. There were 34 current contracts pending sale this July compared to 39 a year ago. The number of current contracts is 13% lower than last July.
		Sale Price to List Price Ratio In July, the average sale price in American University Park and the Palisades was 97.7% of the average list price, which is 3.9% lower than at this time last year. Days on Market This month, the average number of days on market was 45, higher than the average last year, which was 18, an increase of 150%.


	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.