The Long & Foster Market Minute

Focus On: Shepherd Park and Petworth Housing Market November 2017

Zip Code(s): 20011 and 20012
Units Sold
73
Active Inventory
156
Median Sale Price
$553,000
Days On Market
23
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 1%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 73 sold this month in Shepherd Park and Petworth Real Estate versus 90 last month, a decrease of 19%. This month's total units sold was higher than at this time last year, an increase of 1% versus November 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 18 units or 10%. The total number of active inventory this November was 156 compared to 174 in November 2016. This month's total of 156 is lower than the previous month's total supply of available inventory of 182, a decrease of 14%.

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Median Sale Price
Last November, the median sale price for Shepherd Park and Petworth Homes was $650,000. This November, the median sale price was $553,000, a decrease of 15% or $97,000 compared to last year. The current median sold price is 3% lower than in October.

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
99
Sold Vs. List Price
100.3%
Months of Supply
2.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 20%
Vs. Year Ago
Up 30%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -12%
Vs. Year Ago

Months of Supply
In November, there was 2.1 months of supply available in Shepherd Park and Petworth, compared to 2.4 in November 2016. That is a decrease of 12% 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 98 in November 2016, an increase of 20%. There were 99 current contracts pending sale this November compared to 76 a year ago. The number of current contracts is 30% higher than last November.

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Sale Price to List Price Ratio
In November, the average sale price in Shepherd Park and Petworth was 100.3% of the average list price, which is 0.7% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 26, a decrease of 12%.

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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.