The Long & Foster Market Minute

Focus On: Shepherd Park and Petworth Housing Market May 2018

Zip Code(s): 20011 and 20012
Units Sold
105
Active Inventory
147
Median Sale Price
$626,000
Days On Market
22
Up 1%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 105 sold this month in Shepherd Park and Petworth Real Estate versus 87 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 1% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 24 units or 14%. The total number of active inventory this May was 147 compared to 171 in May 2017. This month's total of 147 is lower than the previous month's total supply of available inventory of 149, a decrease of 1%.

Median Sale Price
Last May, the median sale price for Shepherd Park and Petworth Homes was $603,000. This May, the median sale price was $626,000, an increase of 4% or $23,000 compared to last year. The current median sold price is 8% higher than in April.

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


New Listings
141
Current Contracts
106
Sold Vs. List Price
101.0%
Months of Supply
1.4
Up 7%
Vs. Year Ago
Up 18%
Vs. Year Ago
No Change
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In May, there was 1.4 months of supply available in Shepherd Park and Petworth, compared to 1.6 in May 2017. That is a decrease of 15% 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 141 homes newly listed for sale in Shepherd Park and Petworth compared to 132 in May 2017, an increase of 7%. There were 106 current contracts pending sale this May compared to 90 a year ago. The number of current contracts is 18% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Shepherd Park and Petworth was 101.0% 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 22, lower than the average last year, which was 27, a decrease of 19%.

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.