The Long & Foster Market Minute

Focus On: Shepherd Park and Petworth Housing Market April 2020

Zip Code(s): 20011 and 20012
Units Sold
82
Active Inventory
167
Median Sale Price
$675,000
Days On Market
34
Down -18%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 42%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 82 sold this month in Shepherd Park and Petworth Real Estate versus 81 last month, an increase of 1%. This month's total units sold was lower than at this time last year, a decrease of 18% versus April 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 26 units or 13%. The total number of active inventory this April was 167 compared to 193 in April 2019. This month's total of 167 is lower than the previous month's total supply of available inventory of 177, a decrease of 6%.

Median Sale Price
Last April, the median sale price for Shepherd Park and Petworth Homes was $632,200. This April, the median sale price was $675,000, an increase of 7% or $42,800 compared to last year. The current median sold price is 6% lower 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
114
Current Contracts
78
Sold Vs. List Price
99.5%
Months of Supply
2.0
Down -31%
Vs. Year Ago
Down -34%
Vs. Year Ago
Down -1.2%
Vs. Year Ago
Up 6%
Vs. Year Ago

Months of Supply
In April, there was 2.0 months of supply available in Shepherd Park and Petworth, compared to 1.9 in April 2019. That is an increase of 6% 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 114 homes newly listed for sale in Shepherd Park and Petworth compared to 165 in April 2019, a decrease of 31%. There were 78 current contracts pending sale this April compared to 119 a year ago. The number of current contracts is 34% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Shepherd Park and Petworth was 99.5% of the average list price, which is 1.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 34, higher than the average last year, which was 24, an increase of 42%.

The Long & Foster Market Minute Shepherd Park and Petworth are defined by properties in zip codes 20011/20012 and includes but is not limited to these neighborhoods: Shepherd Park, Colonial Village, Crestwood, and Petworth.
*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.