The Long & Foster Market Minute

Focus On: Logan Circle and Dupont Housing Market December 2022

Zip Code(s): 20005 and 20036
Units Sold
24
Active Inventory
44
Median Sale Price
$544,000
Days On Market
35
Down -41%
Vs. Year Ago
Down -30%
Vs. Year Ago
Up
Vs. Year Ago
Down -5%
Vs. Year Ago

Units Sold
The number of units sold remained stable in December, with 24 sold this month in Logan Circle and Dupont Real Estate. This month's total units sold was lower than at this time last year, a decrease of 27% versus December 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 30%. The total number of active inventory this December was 44 compared to 63 in December 2021. This month's total of 44 is lower than the previous month's total supply of available inventory of 67, a decrease of 34%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last December, the median sale price for Logan Circle and Dupont Homes was $419,500. This December, the median sale price was $544,000, an increase of $124,500 compared to last year. The current median sold price is higher than in November.

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


New Listings
16
Current Contracts
17
Sold Vs. List Price
97.6%
Months of Supply
1.8
Down -27%
Vs. Year Ago
Down -26%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Up 19%
Vs. Year Ago

Months of Supply
In December, there was 1.8 months of supply available in Logan Circle and Dupont, compared to 1.5 in December 2021. That is an increase of 19% 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 16 homes newly listed for sale in Logan Circle and Dupont compared to 22 in December 2021, a decrease of 27%. There were 17 current contracts pending sale this December compared to 23 a year ago. The number of current contracts is 26% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Logan Circle and Dupont was 97.6% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 35, lower than the average last year, which was 37, a decrease of 5%.

The Long & Foster Market Minute Logan Circle and Dupont are defined as properties in zip codes 20005 and 20036.
*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.