The Long & Foster Market Minute

Focus On: Foggy Bottom and West End Housing Market June 2021

Zip Code(s): 20036 and 20037
Units Sold
42
Active Inventory
184
Median Sale Price
$392,500
Days On Market
41
Up
Vs. Year Ago
Up 66%
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 46%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 42 sold this month in Foggy Bottom and West End 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 73 units or 66%. The total number of active inventory this June was 184 compared to 111 in June 2020. This month's total of 184 is lower than the previous month's total supply of available inventory of 195, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Foggy Bottom and West End Homes was $542,500. This June, the median sale price was $392,500, a decrease of $150,000 compared to last year. The current median sold price is lower 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
76
Current Contracts
56
Sold Vs. List Price
99.6%
Months of Supply
4.4
Up 25%
Vs. Year Ago
Up 47%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -17%
Vs. Year Ago

Months of Supply
In June, there was 4.4 months of supply available in Foggy Bottom and West End, compared to 5.3 in June 2020. That is a decrease of 17% 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 76 homes newly listed for sale in Foggy Bottom and West End compared to 61 in June 2020, an increase of 25%. There were 56 current contracts pending sale this June compared to 38 a year ago. The number of current contracts is 47% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Foggy Bottom and West End was 99.6% of the average list price, which is 1.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 41, higher than the average last year, which was 28, an increase of 46%.

The Long & Foster Market Minute 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.
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.