The Long & Foster Market Minute

Focus On: Columbia Heights and Mt. Pleasant Housing Market September 2018

Zip Code(s): 20010
Units Sold
24
Active Inventory
75
Median Sale Price
$740,000
Days On Market
42
Down
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 40%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in September, with 24 sold this month in Columbia Heights and Mt. Pleasant Real Estate. This month's total units sold was lower than at this time last year, a decrease from September 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 4 units or 6%. The total number of active inventory this September was 75 compared to 71 in September 2017. This month's total of 75 is higher than the previous month's total supply of available inventory of 62, an increase of 21%.

Median Sale Price
Last September, the median sale price for Columbia Heights and Mt. Pleasant Homes was $640,000. This September, the median sale price was $740,000, an increase of 16% or $100,000 compared to last year. The current median sold price is 23% higher than in August.

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


New Listings
80
Current Contracts
40
Sold Vs. List Price
101.5%
Months of Supply
3.1
Up 33%
Vs. Year Ago
Up 67%
Vs. Year Ago
Up 2.5%
Vs. Year Ago
Up 28%
Vs. Year Ago

Months of Supply
In September, there was 3.1 months of supply available in Columbia Heights and Mt. Pleasant, compared to 2.4 in September 2017. That is an increase of 28% 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 80 homes newly listed for sale in Columbia Heights and Mt. Pleasant compared to 60 in September 2017, an increase of 33%. There were 40 current contracts pending sale this September compared to 24 a year ago. The number of current contracts is 67% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Columbia Heights and Mt. Pleasant was 101.5% of the average list price, which is 2.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 42, higher than the average last year, which was 30, an increase of 40%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.