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| JULY 2024 | |||
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| Zip Code(s): 20008 | |||
| Units Sold 27 |
Active Inventory 80 |
Median Sale Price $475,000 |
Days On Market 67 |
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| Up 8% Vs. Year Ago |
Up 23% Vs. Year Ago |
Up Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
There was an increase in total units sold in July, with 27 sold this month in Cleveland Park and Kalorama Real Estate versus 25 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 8% versus July 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 15 units or 23%. The total number of active inventory this July was 80 compared to 65 in July 2023. This month's total of 80 is lower than the previous month's total supply of available inventory of 86, a decrease of 7%. |
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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 July, the median sale price for Cleveland Park and Kalorama Homes was $470,000. This July, the median sale price was $475,000, an increase of $5,000 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. |
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| New Listings 33 |
Current Contracts 23 |
Sold Vs. List Price 96.5% |
Months of Supply 3.0 |
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| Down -15% Vs. Year Ago |
Down -23% Vs. Year Ago |
Down -4.4% Vs. Year Ago |
Up 14% Vs. Year Ago |
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Months of Supply
In July, there was 3.0 months of supply available in Cleveland Park and Kalorama, compared to 2.6 in July 2023. That is an increase of 14% 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 Cleveland Park and Kalorama compared to 39 in July 2023, a decrease of 15%. There were 23 current contracts pending sale this July compared to 30 a year ago. The number of current contracts is 23% lower than last July. |
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Sale Price to List Price Ratio
In July, the average sale price in Cleveland Park and Kalorama was 96.5% of the average list price, which is 4.4% lower than at this time last year. Days on Market
This month, the average number of days on market was 67, higher than the average last year, which was 20. This increase was impacted by the limited number of sales. | |||
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Cleveland Park and Kalorama are defined as properties in zip code 20008 and includes, but is not limited to these neighborhoods: Cleveland Park, Forest Hills, and Kalorama. | ||
| *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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