The Long & Foster Market Minute

Focus On: Foggy Bottom and West End Housing Market October 2018

Zip Code(s): 20036 and 20037
Units Sold
40
Active Inventory
162
Median Sale Price
$599,450
Days On Market
44
Up 25%
Vs. Year Ago
Up 67%
Vs. Year Ago
Up
Vs. Year Ago
Up 33%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 40 sold this month in Foggy Bottom and West End Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 65 units or 67%. The total number of active inventory this October was 162 compared to 97 in October 2017. This month's total of 162 is lower than the previous month's total supply of available inventory of 163, a decrease of 1%.

Median Sale Price
Last October, the median sale price for Foggy Bottom and West End Homes was $379,500. This October, the median sale price was $599,450, an increase of $219,950 compared to last year. The current median sold price is higher than in September.

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


New Listings
65
Current Contracts
33
Sold Vs. List Price
97.3%
Months of Supply
4.1
Up 33%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -2.2%
Vs. Year Ago
Up 34%
Vs. Year Ago

Months of Supply
In October, there was 4.1 months of supply available in Foggy Bottom and West End, compared to 3.0 in October 2017. That is an increase 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 65 homes newly listed for sale in Foggy Bottom and West End compared to 49 in October 2017, an increase of 33%. There were 33 current contracts pending sale this October compared to 36 a year ago. The number of current contracts is 8% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Foggy Bottom and West End was 97.3% of the average list price, which is 2.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 44, higher than the average last year, which was 33, an increase of 33%.

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.