The Long & Foster Market Minute

Focus On: Shepherd Park and Petworth Housing Market August 2018

Zip Code(s): 20011 and 20012
Units Sold
102
Active Inventory
157
Median Sale Price
$586,000
Days On Market
25
Down -6%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 102 sold this month in Shepherd Park and Petworth Real Estate versus 98 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 6% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 12 units or 7%. The total number of active inventory this August was 157 compared to 169 in August 2017. This month's total of 157 is lower than the previous month's total supply of available inventory of 168, a decrease of 7%.

Median Sale Price
Last August, the median sale price for Shepherd Park and Petworth Homes was $515,000. This August, the median sale price was $586,000, an increase of 14% or $71,000 compared to last year. The current median sold price is 10% lower than in July.

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


New Listings
123
Current Contracts
81
Sold Vs. List Price
99.5%
Months of Supply
1.5
Up 4%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In August, there was 1.5 months of supply available in Shepherd Park and Petworth. The amount of supply is similar compared to 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 123 homes newly listed for sale in Shepherd Park and Petworth compared to 118 in August 2017, an increase of 4%. There were 81 current contracts pending sale this August compared to 87 a year ago. The number of current contracts is 7% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Shepherd Park and Petworth was 99.5% 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 25, lower than the average last year, which was 29, a decrease of 14%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.