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| FEBRUARY 2025 | |||
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| Zip Code(s): 20008 | |||
| Units Sold 15 |
Active Inventory 89 |
Median Sale Price $499,000 |
Days On Market 44 |
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| Down Vs. Year Ago |
Up 25% Vs. Year Ago |
Down Vs. Year Ago |
Down -4% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 15 sold this month in Cleveland Park and Kalorama Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 18 units or 25%. The total number of active inventory this February was 89 compared to 71 in February 2024. This month's total of 89 is higher than the previous month's total supply of available inventory of 86, an increase of 3%. |
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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 February, the median sale price for Cleveland Park and Kalorama Homes was $706,000. This February, the median sale price was $499,000, a decrease of $207,000 compared to last year. The current median sold price is lower than in January. 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 39 |
Current Contracts 26 |
Sold Vs. List Price 97.8% |
Months of Supply 5.9 |
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| Up 18% Vs. Year Ago |
Up 13% Vs. Year Ago |
Down -1% Vs. Year Ago |
Up 75% Vs. Year Ago |
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Months of Supply
In February, there was 5.9 months of supply available in Cleveland Park and Kalorama, compared to 3.4 in February 2024. That is an increase of 75% 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 39 homes newly listed for sale in Cleveland Park and Kalorama compared to 33 in February 2024, an increase of 18%. There were 26 current contracts pending sale this February compared to 23 a year ago. The number of current contracts remained stable as compared to last February. |
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Sale Price to List Price Ratio
In February, the average sale price in Cleveland Park and Kalorama was 97.8% of the average list price, which is 1.0% lower than at this time last year. Days on Market
This month, the average number of days on market was 44, lower than the average last year, which was 46, a decrease of 4%. | |||
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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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