The Long & Foster Market Minute

Focus On: Capitol Hill (SE) Housing Market January 2024

Zip Code(s): 20003
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in January, with 17 sold this month in Capitol Hill (SE) Real Estate. This month's total units sold was higher than at this time last year, an increase from January 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 6 units or 7%. The total number of active inventory this January was 80 compared to 86 in January 2023. This month's total of 80 is higher than the previous month's total supply of available inventory of 74, an increase of 8%.

Median Sale Price
Last January, the median sale price for Capitol Hill (SE) Homes was $775,000. This January, the median sale price was $765,000, a decrease of 1% or $10,000 compared to last year. The current median sold price is 9% higher than in December.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -35%
Vs. Year Ago
Down -29%
Vs. Year Ago
No Change
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In January, there was 4.7 months of supply available in Capitol Hill (SE), compared to 5.7 in January 2023. That is a decrease of 18% 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 46 homes newly listed for sale in Capitol Hill (SE) compared to 71 in January 2023, a decrease of 35%. There were 20 current contracts pending sale this January compared to 28 a year ago. The number of current contracts is 29% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Capitol Hill (SE) was 97.4% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 51, lower than the average last year, which was 53, a decrease of 4%.

The Long & Foster Market Minute Capitol Hill (SE) is defined as properties in zip code 20003.
*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.