The Long & Foster Market Minute

FOCUS ON: COLUMBIA HEIGHTS AND MT. PLEASANT HOUSING MARKET APRIL 2024

Zip Code(s): 20010
Units Sold
19
Active Inventory
111
Median Sale Price
$675,000
Days On Market
29
Down -32%
Vs. Year Ago
Up 32%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 19 sold this month in Columbia Heights and Mt. Pleasant Real Estate versus 23 last month, a decrease of 17%. This month's total units sold was lower than at this time last year, a decrease of 32% versus April 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 27 units or 32%. The total number of active inventory this April was 111 compared to 84 in April 2023. This month's total of 111 is higher than the previous month's total supply of available inventory of 95, an increase of 17%.

Median Sale Price
Last April, the median sale price for Columbia Heights and Mt. Pleasant Homes was $772,500. This April, the median sale price was $675,000, a decrease of 13% or $97,500 compared to last year. The current median sold price is 8% lower than in March.

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


New Listings
68
Current Contracts
29
Sold Vs. List Price
102.1%
Months of Supply
5.8
Up 33%
Vs. Year Ago
Down -24%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Up 95%
Vs. Year Ago

Months of Supply
In April, there was 5.8 months of supply available in Columbia Heights and Mt. Pleasant, compared to 3.0 in April 2023. That is an increase of 95% 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 68 homes newly listed for sale in Columbia Heights and Mt. Pleasant compared to 51 in April 2023, an increase of 33%. There were 29 current contracts pending sale this April compared to 38 a year ago. The number of current contracts is 24% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Columbia Heights and Mt. Pleasant was 102.1% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 29, higher than the average last year, which was 18. This increase was impacted by the limited number of sales.

The Long & Foster Market Minute Columbia Heights and Mt. Pleasant are defined as properties in zip code 20010.
*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.