The Long & Foster Market Minute

Focus On: Foggy Bottom and West End Housing Market January 2019

Zip Code(s): 20036 and 20037
Units Sold
26
Active Inventory
109
Median Sale Price
$570,000
Days On Market
59
Down -4%
Vs. Year Ago
Up 24%
Vs. Year Ago
Up
Vs. Year Ago
Up 48%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 26 sold this month in Foggy Bottom and West End Real Estate versus 33 last month, a decrease of 21%. This month's total units sold was lower than at this time last year, a decrease of 4% versus January 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 21 units or 24%. The total number of active inventory this January was 109 compared to 88 in January 2018. This month's total of 109 is lower than the previous month's total supply of available inventory of 143, a decrease of 24%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last January, the median sale price for Foggy Bottom and West End Homes was $450,000. This January, the median sale price was $570,000, an increase of $120,000 compared to last year. The current median sold price is higher than in December.

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


New Listings
52
Current Contracts
33
Sold Vs. List Price
97.3%
Months of Supply
4.2
Up 11%
Vs. Year Ago
Up 57%
Vs. Year Ago
Down -2.4%
Vs. Year Ago
Up 29%
Vs. Year Ago

Months of Supply
In January, there was 4.2 months of supply available in Foggy Bottom and West End, compared to 3.3 in January 2018. That is an increase of 29% 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 52 homes newly listed for sale in Foggy Bottom and West End compared to 47 in January 2018, an increase of 11%. There were 33 current contracts pending sale this January compared to 21 a year ago. The number of current contracts is 57% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Foggy Bottom and West End was 97.3% of the average list price, which is 2.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 59, higher than the average last year, which was 40, an increase of 48%.

The Long & Foster Market Minute Foggy Bottom and West End are defined as properties in zip codes 20036/20037.
*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.