The Long & Foster Market Minute

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

Zip Code(s): 20036 and 20037
Units Sold
24
Active Inventory
164
Median Sale Price
$368,075
Days On Market
40
Up
Vs. Year Ago
Up 46%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 33%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in September, with 24 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, an increase from September 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 52 units or 46%. The total number of active inventory this September was 164 compared to 112 in September 2017. This month's total of 164 is higher than the previous month's total supply of available inventory of 134, an increase of 22%.

Median Sale Price
Last September, the median sale price for Foggy Bottom and West End Homes was $331,000. This September, the median sale price was $368,075, an increase of 11% or $37,075 compared to last year. The current median sold price is 17% lower than in August.

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


New Listings
95
Current Contracts
33
Sold Vs. List Price
99.4%
Months of Supply
6.8
Up 44%
Vs. Year Ago
Up 32%
Vs. Year Ago
No Change
Vs. Year Ago
Up 40%
Vs. Year Ago

Months of Supply
In September, there was 6.8 months of supply available in Foggy Bottom and West End, compared to 4.9 in September 2017. That is an increase of 40% 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 95 homes newly listed for sale in Foggy Bottom and West End compared to 66 in September 2017, an increase of 44%. There were 33 current contracts pending sale this September compared to 25 a year ago. The number of current contracts is 32% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Foggy Bottom and West End was 99.4% 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 40, higher than the average last year, which was 30, 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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.