The Long & Foster Market Minute

Focus On: Logan Circle and Dupont Housing Market January 2024

Zip Code(s): 20005 and 20036
Units Sold
17
Active Inventory
50
Median Sale Price
$605,000
Days On Market
38
Down -23%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up
Vs. Year Ago
Up 31%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 17 sold this month in Logan Circle and Dupont Real Estate versus 20 last month, a decrease of 15%. This month's total units sold was lower than at this time last year, a decrease of 23% versus January 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 4 units or 7%. The total number of active inventory this January was 50 compared to 54 in January 2023. This month's total of 50 is lower than the previous month's total supply of available inventory of 51, a decrease of 2%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last January, the median sale price for Logan Circle and Dupont Homes was $422,500. This January, the median sale price was $605,000, an increase of $182,500 compared to last year. The current median sold price is higher than in December.

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


New Listings
27
Current Contracts
17
Sold Vs. List Price
98.8%
Months of Supply
2.9
Down -44%
Vs. Year Ago
Down -37%
Vs. Year Ago
No Change
Vs. Year Ago
Up 20%
Vs. Year Ago

Months of Supply
In January, there was 2.9 months of supply available in Logan Circle and Dupont, compared to 2.5 in January 2023. That is an increase of 20% 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 27 homes newly listed for sale in Logan Circle and Dupont compared to 48 in January 2023, a decrease of 44%. There were 17 current contracts pending sale this January compared to 27 a year ago. The number of current contracts is 37% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Logan Circle and Dupont was 98.8% 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 38, higher than the average last year, which was 29, an increase of 31%.

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.