The Long & Foster Market Minute

Focus On: Cleveland Park and Kalorama Housing Market April 2019

Zip Code(s): 20008
Units Sold
37
Active Inventory
79
Median Sale Price
$492,000
Days On Market
25
Up
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in April, with 37 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 April 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 6 units or 8%. The total number of active inventory this April was 79 compared to 73 in April 2018. This month's total of 79 is higher than the previous month's total supply of available inventory of 75, an increase of 5%.

Median Sale Price
Last April, the median sale price for Cleveland Park and Kalorama Homes was $577,250. This April, the median sale price was approximately the same at $492,000. The current median sold price is 15% lower than in April 2018.

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


New Listings
70
Current Contracts
51
Sold Vs. List Price
100.7%
Months of Supply
2.1
Up 6%
Vs. Year Ago
Up 21%
Vs. Year Ago
Up
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In April, there was 2.1 months of supply available in Cleveland Park and Kalorama. The amount of supply is similar compared to 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 70 homes newly listed for sale in Cleveland Park and Kalorama compared to 66 in April 2018, an increase of 6%. There were 51 current contracts pending sale this April compared to 42 a year ago. The number of current contracts is 21% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Cleveland Park and Kalorama was 100.7% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 30, a decrease of 17%.

The Long & Foster Market Minute 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.
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.