Foggy Bottom and West End Housing Market Data

The number of units sold remained stable in May, with 50 sold this month in Foggy Bottom and West End Real Estate. This month's total units sold was lower than at this time last year, a decrease of 20% versus May 2021.

Versus last year, the total number of homes available this month is lower by 72 units or 37%. The total number of active inventory this May was 125 compared to 197 in May 2021. This month's total of 125 is lower than the previous month's total supply of available inventory of 140, a decrease of 11%.

Last May, the median sale price for Foggy Bottom and West End Homes was $526,500. This May, the median sale price was $404,000, a decrease of $122,500 compared to last year. The current median sold price is lower 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.

In May, there was 2.5 months of supply available in Foggy Bottom and West End, compared to 3.8 in May 2021. That is a decrease of 34% 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.

This month there were 57 homes newly listed for sale in Foggy Bottom and West End compared to 71 in May 2021, a decrease of 20%. There were 50 current contracts pending sale this May compared to 36 a year ago. The number of current contracts is 39% higher than last May.

In May, the average sale price in Foggy Bottom and West End was 98.6% of the average list price, which is 1.9% higher than at this time last year.

This month, the average number of days on market was 39, lower than the average last year, which was 40, a decrease of 3%.





Focus On: Foggy Bottom and West End Housing Market			May 2022

Zip Code(s): 20036 and 20037
Units Sold 50	Active Inventory 125	Median Sale Price $404,000	Days On Market 39

Down -4% Vs. Year Ago	Down -37% Vs. Year Ago	Down -23% Vs. Year Ago	Down -3% Vs. Year Ago


		Units Sold The number of units sold remained stable in May, with 50 sold this month in Foggy Bottom and West End Real Estate. This month's total units sold was lower than at this time last year, a decrease of 20% versus May 2021.
Active Inventory Versus last year, the total number of homes available this month is lower by 72 units or 37%. The total number of active inventory this May was 125 compared to 197 in May 2021. This month's total of 125 is lower than the previous month's total supply of available inventory of 140, a decrease of 11%.
		Median Sale Price Last May, the median sale price for Foggy Bottom and West End Homes was $526,500. This May, the median sale price was $404,000, a decrease of $122,500 compared to last year. The current median sold price is lower 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 57	Current Contracts 50	Sold Vs. List Price 98.6%	Months of Supply 2.5

Down -20% Vs. Year Ago	Up 39% Vs. Year Ago	Up 2% Vs. Year Ago	Down -34% Vs. Year Ago


		Months of Supply In May, there was 2.5 months of supply available in Foggy Bottom and West End, compared to 3.8 in May 2021. That is a decrease of 34% 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 57 homes newly listed for sale in Foggy Bottom and West End compared to 71 in May 2021, a decrease of 20%. There were 50 current contracts pending sale this May compared to 36 a year ago. The number of current contracts is 39% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in Foggy Bottom and West End was 98.6% of the average list price, which is 1.9% higher than at this time last year. Days on Market This month, the average number of days on market was 39, lower than the average last year, which was 40, a decrease of 3%.


	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.
	Information 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.