The Long & Foster Market Minute

Focus On: Brightwood and Petworth Housing Market April 2019

Zip Code(s): 20011
Units Sold
82
Active Inventory
134
Median Sale Price
$629,250
Days On Market
35
Up 14%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 59%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 82 sold this month in Brightwood and Petworth Real Estate versus 66 last month, an increase of 24%. This month's total units sold was higher than at this time last year, an increase of 14% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1 units or 1%. The total number of active inventory this April was 134 compared to 135 in April 2018. This month's total of 134 is lower than the previous month's total supply of available inventory of 162, a decrease of 17%.

Median Sale Price
Last April, the median sale price for Brightwood and Petworth Homes was $577,475. This April, the median sale price was $629,250, an increase of 9% or $51,775 compared to last year. The current median sold price is 8% lower 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
134
Current Contracts
106
Sold Vs. List Price
101.1%
Months of Supply
1.6
Up 22%
Vs. Year Ago
Up 34%
Vs. Year Ago
No Change
Vs. Year Ago
Down -13%
Vs. Year Ago

Months of Supply
In April, there was 1.6 months of supply available in Brightwood and Petworth, compared to 1.9 in April 2018. That is a decrease of 13% 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 134 homes newly listed for sale in Brightwood and Petworth compared to 110 in April 2018, an increase of 22%. There were 106 current contracts pending sale this April compared to 79 a year ago. The number of current contracts is 34% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Brightwood and Petworth was 101.1% 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 35, higher than the average last year, which was 22, an increase of 59%.

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.