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| MARCH 2025 | |||
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| Zip Code(s): 20008 | |||
| Units Sold 34 |
Active Inventory 102 |
Median Sale Price $791,000 |
Days On Market 36 |
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| Up Vs. Year Ago |
Up 50% Vs. Year Ago |
Up Vs. Year Ago |
Up 13% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 34 sold this month in Cleveland Park and Kalorama Real Estate. This month's total units sold was higher than at this time last year, an increase from March 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 34 units or 50%. The total number of active inventory this March was 102 compared to 68 in March 2024. This month's total of 102 is lower than the previous month's total supply of available inventory of 111, a decrease of 8%. |
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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 March, the median sale price for Cleveland Park and Kalorama Homes was $515,000. This March, the median sale price was $791,000, an increase of $276,000 compared to last year. The current median sold price is 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. |
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| New Listings 38 |
Current Contracts 37 |
Sold Vs. List Price 99.5% |
Months of Supply 3.0 |
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| Down -12% Vs. Year Ago |
Up 3% Vs. Year Ago |
No Change Vs. Year Ago |
Up 41% Vs. Year Ago |
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Months of Supply
In March, there was 3.0 months of supply available in Cleveland Park and Kalorama, compared to 2.1 in March 2024. That is an increase of 41% 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 38 homes newly listed for sale in Cleveland Park and Kalorama compared to 43 in March 2024, a decrease of 12%. There were 37 current contracts pending sale this March compared to 36 a year ago. The number of current contracts is 3% higher than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Cleveland Park and Kalorama was 99.5% 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 36, higher than the average last year, which was 32, an increase of 13%. | |||
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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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