The Long & Foster Market Minute

Focus On: Shepherd Park and Petworth Housing Market August 2017

Zip Code(s): 20011 and 20012
Units Sold
109
Active Inventory
131
Median Sale Price
$520,000
Days On Market
29
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 31%
Vs. Year Ago
Down -28%
Vs. Year Ago
Down -16%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 109 sold this month in Shepherd Park and Petworth Real Estate versus 82 last month, an increase of 33%. This month's total units sold was higher than at this time last year, an increase of 31% versus August 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 50 units or 28%. The total number of active inventory this August was 131 compared to 181 in August 2016. This month's total of 131 is lower than the previous month's total supply of available inventory of 152, a decrease of 14%.

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Median Sale Price
Last August, the median sale price for Shepherd Park and Petworth Homes was $620,000. This August, the median sale price was $520,000, a decrease of 16% or $100,000 compared to last year. The current median sold price is 15% 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.

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New Listings
118
Current Contracts
95
Sold Vs. List Price
99.3%
Months of Supply
1.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 26%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In August, there was 1.2 months of supply available in Shepherd Park and Petworth, compared to 2.2 in August 2016. That is a decrease of 45% 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.

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New Listings & Current Contracts
This month there were 118 homes newly listed for sale in Shepherd Park and Petworth compared to 94 in August 2016, an increase of 26%. There were 95 current contracts pending sale this August compared to 80 a year ago. The number of current contracts is 19% higher than last August.

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Sale Price to List Price Ratio
In August, the average sale price in Shepherd Park and Petworth was 99.3% of the average list price, which is 0.6% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 29, which is similar compared to a year ago.

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The Long & Foster Market Minute *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.