The Long & Foster Market Minute

Focus On: Penn Quarter and Shaw Housing Market April 2020

Zip Code(s): 20001
Units Sold
47
Active Inventory
126
Median Sale Price
$685,000
Days On Market
23
Down
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -21%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 47 sold this month in Penn Quarter and Shaw Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 4 units or 3%. The total number of active inventory this April was 126 compared to 122 in April 2019. This month's total of 126 is higher than the previous month's total supply of available inventory of 124, an increase of 2%.

Median Sale Price
Last April, the median sale price for Penn Quarter and Shaw Homes was $676,900. This April, the median sale price was $685,000, an increase of 1% or $8,100 compared to last year. The current median sold price is 2% higher than in March.

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


New Listings
74
Current Contracts
49
Sold Vs. List Price
100.5%
Months of Supply
2.7
Down -36%
Vs. Year Ago
Down -38%
Vs. Year Ago
No Change
Vs. Year Ago
Up 120%
Vs. Year Ago

Months of Supply
In April, there was 2.7 months of supply available in Penn Quarter and Shaw, compared to 1.2 in April 2019. That is an increase of 120% 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 74 homes newly listed for sale in Penn Quarter and Shaw compared to 116 in April 2019, a decrease of 36%. There were 49 current contracts pending sale this April compared to 79 a year ago. The number of current contracts is 38% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Penn Quarter and Shaw was 100.5% 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 23, lower than the average last year, which was 29, a decrease of 21%.

The Long & Foster Market Minute Penn Quarter and Shaw are defined as properties in zip code 20001 and includes, but is not limited to these neighborhoods: Penn Quarter, Shaw, and LeDroit Park.
*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.