The Long & Foster Market Minute

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

Zip Code(s): 20036 and 20037
Units Sold
38
Active Inventory
105
Median Sale Price
$479,950
Days On Market
60
Up 3%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 38 sold this month in Foggy Bottom and West End Real Estate versus 32 last month, an increase of 19%. This month's total units sold was higher than at this time last year, an increase of 3% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 13%. The total number of active inventory this April was 105 compared to 120 in April 2018. This month's total of 105 is lower than the previous month's total supply of available inventory of 109, a decrease of 4%.

Median Sale Price
Last April, the median sale price for Foggy Bottom and West End Homes was $475,000. This April, the median sale price was $479,950, an increase of 1% or $4,950 compared to last year. The current median sold price is 9% higher than in March.

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


New Listings
83
Current Contracts
59
Sold Vs. List Price
98.9%
Months of Supply
2.8
Up 5%
Vs. Year Ago
Up 31%
Vs. Year Ago
No Change
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In April, there was 2.8 months of supply available in Foggy Bottom and West End, compared to 3.2 in April 2018. That is a decrease of 15% 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 83 homes newly listed for sale in Foggy Bottom and West End compared to 79 in April 2018, an increase of 5%. There were 59 current contracts pending sale this April compared to 45 a year ago. The number of current contracts is 31% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Foggy Bottom and West End was 98.9% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 60, higher than the average last year, which was 20. This increase was impacted by the limited number of sales.

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.