Brightwood and Petworth Housing Market Data

There was an increase in total units sold in February, with 40 sold this month in Brightwood and Petworth Real Estate. This month's total units sold was lower than at this time last year.

Versus last year, the total number of homes available this month is higher by 77 units or 66%. The total number of active inventory this February was 194 compared to 117 in February 2022. This month's total of 194 is lower than the previous month's total supply of available inventory of 197, a decrease of 2%.

Last February, the median sale price for Brightwood and Petworth Homes was $713,000. This February, the median sale price was $750,000, an increase of 5% or $37,000 compared to last year. The current median sold price is 23% higher than in January.

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

In February, there was 4.9 months of supply available in Brightwood and Petworth, compared to 1.6 in February 2022. That is an increase of 203% 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.

This month there were 113 homes newly listed for sale in Brightwood and Petworth compared to 82 in February 2022, an increase of 38%. There were 72 current contracts pending sale this February compared to 67 a year ago. The number of current contracts is 7% higher than last February.

In February, the average sale price in Brightwood and Petworth was 97.7% of the average list price, which is 3.9% lower than at this time last year.

This month, the average number of days on market was 48, higher than the average last year, which was 31, an increase of 55%.





Focus On: Brightwood and Petworth Housing Market			February 2023

Zip Code(s): 20011
Units Sold 40	Active Inventory 194	Median Sale Price $750,000	Days On Market 48

Down Vs. Year Ago	Up 66% Vs. Year Ago	Up 5% Vs. Year Ago	Up 55% Vs. Year Ago


		Units Sold There was an increase in total units sold in February, with 40 sold this month in Brightwood and Petworth Real Estate. This month's total units sold was lower than at this time last year.
Active Inventory Versus last year, the total number of homes available this month is higher by 77 units or 66%. The total number of active inventory this February was 194 compared to 117 in February 2022. This month's total of 194 is lower than the previous month's total supply of available inventory of 197, a decrease of 2%.
		Median Sale Price Last February, the median sale price for Brightwood and Petworth Homes was $713,000. This February, the median sale price was $750,000, an increase of 5% or $37,000 compared to last year. The current median sold price is 23% higher than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 113	Current Contracts 72	Sold Vs. List Price 97.7%	Months of Supply 4.9

Up 38% Vs. Year Ago	Up 7% Vs. Year Ago	Down -3.8% Vs. Year Ago	Up 203% Vs. Year Ago


		Months of Supply In February, there was 4.9 months of supply available in Brightwood and Petworth, compared to 1.6 in February 2022. That is an increase of 203% 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 113 homes newly listed for sale in Brightwood and Petworth compared to 82 in February 2022, an increase of 38%. There were 72 current contracts pending sale this February compared to 67 a year ago. The number of current contracts is 7% higher than last February.
		Sale Price to List Price Ratio In February, the average sale price in Brightwood and Petworth was 97.7% of the average list price, which is 3.9% lower than at this time last year. Days on Market This month, the average number of days on market was 48, higher than the average last year, which was 31, an increase of 55%.


	Brightwood and Petworth are defined as properties listed in zip code/s 20011.
	*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.
	Information 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.