The Long & Foster Market Minute

Focus On: Petworth Housing Market June 2019

Zip Code(s): 20011
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -12%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 80 sold this month in Petworth Real Estate versus 112 last month, a decrease of 29%. This month's total units sold was lower than at this time last year, a decrease of 12% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 9 units or 6%. The total number of active inventory this June was 163 compared to 154 in June 2018. This month's total of 163 is lower than the previous month's total supply of available inventory of 184, a decrease of 11%.

Median Sale Price
Last June, the median sale price for Petworth Homes was $695,000. This June, the median sale price was $648,000, a decrease of 7% or $47,000 compared to last year. The current median sold price is 8% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 7%
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago
Up 21%
Vs. Year Ago

Months of Supply
In June, there was 2.0 months of supply available in Petworth, compared to 1.7 in June 2018. 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 129 homes newly listed for sale in Petworth compared to 120 in June 2018, an increase of 8%. There were 88 current contracts pending sale this June compared to 85 a year ago. The number of current contracts is 4% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Petworth was 100.8% 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 21, lower than the average last year, which was 24, a decrease of 13%.

The Long & Foster Market Minute Petworth are defined as properties listed in zip code/s 20011.
*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.