The Long & Foster Market Minute

Focus On: Columbia Heights and Mt. Pleasant Housing Market May 2020

Zip Code(s): 20010
Units Sold
37
Active Inventory
70
Median Sale Price
$720,000
Days On Market
23
Down -31%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -15%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 37 sold this month in Columbia Heights and Mt. Pleasant Real Estate versus 34 last month, an increase of 9%. This month's total units sold was lower than at this time last year, a decrease of 31% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 35 units or 33%. The total number of active inventory this May was 70 compared to 105 in May 2019. This month's total of 70 is higher than the previous month's total supply of available inventory of 69, an increase of 1%.

Median Sale Price
Last May, the median sale price for Columbia Heights and Mt. Pleasant Homes was $710,000. This May, the median sale price was $720,000, an increase of 1% or $10,000 compared to last year. The current median sold price is 10% higher than in April.

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


New Listings
74
Current Contracts
51
Sold Vs. List Price
100.2%
Months of Supply
1.9
Down -12%
Vs. Year Ago
Up 34%
Vs. Year Ago
Down -1.4%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 1.9 months of supply available in Columbia Heights and Mt. Pleasant. 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 74 homes newly listed for sale in Columbia Heights and Mt. Pleasant compared to 84 in May 2019, a decrease of 12%. There were 51 current contracts pending sale this May compared to 38 a year ago. The number of current contracts is 34% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Columbia Heights and Mt. Pleasant was 100.2% of the average list price, which is 1.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 27, a decrease of 15%.

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.