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| OCTOBER 2024 | |||
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| Zip Code(s): 20036 and 20037 | |||
| Units Sold 25 |
Active Inventory 147 |
Median Sale Price $560,000 |
Days On Market 102 |
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| Up 4% Vs. Year Ago |
Up 41% Vs. Year Ago |
Up Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
There was an increase in total units sold in October, with 25 sold this month in Foggy Bottom and West End Real Estate versus 19 last month, an increase of 32%. This month's total units sold was higher than at this time last year, an increase of 4% versus October 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 43 units or 41%. The total number of active inventory this October was 147 compared to 104 in October 2023. This month's supply remained stable as compared to last month. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last October, the median sale price for Foggy Bottom and West End Homes was $530,500. This October, the median sale price was $560,000, an increase of $29,500 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. |
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| New Listings 39 |
Current Contracts 24 |
Sold Vs. List Price 96.3% |
Months of Supply 5.9 |
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| Up 5% Vs. Year Ago |
Down -8% Vs. Year Ago |
Up 1.4% Vs. Year Ago |
Up 36% Vs. Year Ago |
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Months of Supply
In October, there was 5.9 months of supply available in Foggy Bottom and West End, compared to 4.3 in October 2023. That is an increase of 36% 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. |
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New Listings & Current Contracts
This month there were 39 homes newly listed for sale in Foggy Bottom and West End compared to 37 in October 2023, an increase of 5%. There were 24 current contracts pending sale this October compared to 26 a year ago. The number of current contracts remained stable as compared to last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Foggy Bottom and West End was 96.3% of the average list price, which is 1.3% higher than at this time last year. Days on Market
This month, the average number of days on market was 102, higher than the average last year, which was 46. This increase was impacted by the limited number of sales. | |||
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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. |
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