The Long & Foster Market Minute

Focus On: Capitol Hill (NE) Housing Market March 2024

Zip Code(s): 20002
Units Sold
45
Active Inventory
308
Median Sale Price
$783,000
Days On Market
50
Down -31%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 28%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in March, with 45 sold this month in Capitol Hill (NE) Real Estate versus 65 last month, a decrease of 31%. This month's total units sold was lower than at this time last year, a decrease of 31% versus March 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 14 units or 5%. The total number of active inventory this March was 308 compared to 294 in March 2023. This month's total of 308 is higher than the previous month's total supply of available inventory of 305, an increase of 1%.

Median Sale Price
Last March, the median sale price for Capitol Hill (NE) Homes was $650,000. This March, the median sale price was $783,000, an increase of 20% or $133,000 compared to last year. The current median sold price is 9% higher 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.


New Listings
160
Current Contracts
92
Sold Vs. List Price
99.6%
Months of Supply
6.8
Up 5%
Vs. Year Ago
Up 30%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Up 51%
Vs. Year Ago

Months of Supply
In March, there was 6.8 months of supply available in Capitol Hill (NE), compared to 4.5 in March 2023. That is an increase of 51% 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 160 homes newly listed for sale in Capitol Hill (NE) compared to 153 in March 2023, an increase of 5%. There were 92 current contracts pending sale this March compared to 71 a year ago. The number of current contracts is 30% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Capitol Hill (NE) was 99.6% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 50, higher than the average last year, which was 39, an increase of 28%.

The Long & Foster Market Minute Capitol Hill (NE) is defined as properties in zip code 20002.
*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.