The Long & Foster Market Minute


Zip Code(s): 20011
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -9%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 50 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 lower by 11 units or 4%. The total number of active inventory this April was 237 compared to 248 in April 2023. This month's total of 237 is higher than the previous month's total supply of available inventory of 234, an increase of 1%.

Median Sale Price
Last April, the median sale price for Brightwood and Petworth Homes was $695,000. This April, the median sale price was $758,500, an increase of 9% or $63,500 compared to last year. The current median sold price is 22% higher than in March.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -7%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Up 51%
Vs. Year Ago

Months of Supply
In April, there was 4.7 months of supply available in Brightwood and Petworth, compared to 3.1 in April 2023. That is an increase of 51% 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 116 homes newly listed for sale in Brightwood and Petworth compared to 125 in April 2023, a decrease of 7%. There were 59 current contracts pending sale this April compared to 75 a year ago. The number of current contracts is 21% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Brightwood and Petworth was 100.2% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 31, lower than the average last year, which was 34, a decrease of 9%.

The Long & Foster Market Minute 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.
REALTOR, Equal Opportunity HousingInformation 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.