The Long & Foster Market Minute

Focus On: Columbia Heights and Mt. Pleasant Housing Market July 2019

Zip Code(s): 20010
Units Sold
38
Active Inventory
78
Median Sale Price
$649,500
Days On Market
40
Down -7%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 38 sold this month in Columbia Heights and Mt. Pleasant Real Estate versus 39 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 7% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 8 units or 11%. The total number of active inventory this July was 78 compared to 70 in July 2018. This month's total of 78 is lower than the previous month's total supply of available inventory of 99, a decrease of 21%.

Median Sale Price
Last July, the median sale price for Columbia Heights and Mt. Pleasant Homes was $665,000. This July, the median sale price was $649,500, a decrease of 2% or $15,500 compared to last year. The current median sold price is 11% 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.


New Listings
49
Current Contracts
44
Sold Vs. List Price
99.4%
Months of Supply
2.1
Up 2%
Vs. Year Ago
Up 38%
Vs. Year Ago
Down -1.7%
Vs. Year Ago
Up 20%
Vs. Year Ago

Months of Supply
In July, there was 2.1 months of supply available in Columbia Heights and Mt. Pleasant, compared to 1.7 in July 2018. That is an increase of 20% 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 49 homes newly listed for sale in Columbia Heights and Mt. Pleasant compared to 48 in July 2018, an increase of 2%. There were 44 current contracts pending sale this July compared to 32 a year ago. The number of current contracts remained stable as compared to last July.

Sale Price to List Price Ratio
In July, the average sale price in Columbia Heights and Mt. Pleasant was 99.4% of the average list price, which is 1.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 40, higher than the average last year, which was 23. 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.