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| JULY 2024 | |||
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| Zip Code(s): 20024 | |||
| Units Sold 16 |
Active Inventory 100 |
Median Sale Price $705,000 |
Days On Market 108 |
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| Down -16% Vs. Year Ago |
Up 52% 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 July, with 16 sold this month in Southwest and Waterfront Real Estate versus 14 last month, an increase of 14%. This month's total units sold was lower than at this time last year, a decrease of 16% versus July 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 34 units or 52%. The total number of active inventory this July was 100 compared to 66 in July 2023. This month's total of 100 is lower than the previous month's total supply of available inventory of 120, a decrease of 17%. |
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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 July, the median sale price for Southwest and Waterfront Homes was $295,000. This July, the median sale price was $705,000, an increase of $410,000 compared to last year. The current median sold price is higher than in June. 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 19 |
Current Contracts 17 |
Sold Vs. List Price 96.2% |
Months of Supply 6.3 |
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| Up 19% Vs. Year Ago |
Up 42% Vs. Year Ago |
Down -1.1% Vs. Year Ago |
Up 80% Vs. Year Ago |
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Months of Supply
In July, there was 6.3 months of supply available in Southwest and Waterfront, compared to 3.5 in July 2023. That is an increase of 80% 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 19 homes newly listed for sale in Southwest and Waterfront compared to 16 in July 2023, an increase of 19%. There were 17 current contracts pending sale this July compared to 12 a year ago. The number of current contracts is 42% higher than last July. |
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Sale Price to List Price Ratio
In July, the average sale price in Southwest and Waterfront was 96.2% of the average list price, which is 1.0% lower than at this time last year. Days on Market
This month, the average number of days on market was 108, higher than the average last year, which was 25. This increase was impacted by the limited number of sales. | |||
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Southwest and Waterfront are defined as properties in zip code 20024. | ||
| *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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