The Long & Foster Market Minute

Focus On: Cleveland Park and Kalorama Housing Market June 2021

Zip Code(s): 20008
Units Sold
63
Active Inventory
98
Median Sale Price
$547,000
Days On Market
27
Up
Vs. Year Ago
Up 29%
Vs. Year Ago
Down -22%
Vs. Year Ago
Down -36%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 63 sold this month in Cleveland Park and Kalorama Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 22 units or 29%. The total number of active inventory this June was 98 compared to 76 in June 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for Cleveland Park and Kalorama Homes was $699,950. This June, the median sale price was $547,000, a decrease of 22% or $152,950 compared to last year. The current median sold price is 17% higher than in May.

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


New Listings
69
Current Contracts
50
Sold Vs. List Price
102.3%
Months of Supply
1.6
Up 57%
Vs. Year Ago
Up 67%
Vs. Year Ago
Up
Vs. Year Ago
Down -30%
Vs. Year Ago

Months of Supply
In June, there was 1.6 months of supply available in Cleveland Park and Kalorama, compared to 2.2 in June 2020. That is a decrease of 30% 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 69 homes newly listed for sale in Cleveland Park and Kalorama compared to 44 in June 2020, an increase of 57%. There were 50 current contracts pending sale this June compared to 30 a year ago. The number of current contracts is 67% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Cleveland Park and Kalorama was 102.3% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 42, a decrease of 36%.

The Long & Foster Market Minute Cleveland Park and Kalorama are defined as properties in zip code 20008 and includes, but is not limited to these neighborhoods: Cleveland Park, Forest Hills, and Kalorama.
*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.