PETWORTH HOUSING MARKET DATA

There was an increase in total units sold in July, with 47 sold this month in Petworth Real Estate versus 43 last month, an increase of 9%. This month's total units sold was lower than at this time last year, a decrease of 22% versus July 2023.

Versus last year, the total number of homes available this month is higher by 45 units or 20%. The total number of active inventory this July was 275 compared to 230 in July 2023. This month's supply remained stable as compared to last month.

Last July, the median sale price for Petworth Homes was $587,500. This July, the median sale price was $799,000, an increase of $211,500 compared to last year. The current median sold price is higher than in June.

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

In July, there was 5.9 months of supply available in Petworth, compared to 3.8 in July 2023. That is an increase of 53% 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 103 homes newly listed for sale in Petworth compared to 101 in July 2023, an increase of 2%. There were 48 current contracts pending sale this July compared to 60 a year ago. The number of current contracts remained stable as compared to last July.

In July, the average sale price in Petworth was 99.4% of the average list price, which is 0.9% lower than at this time last year.

This month, the average number of days on market was 46, higher than the average last year, which was 31, an increase of 48%.





FOCUS ON: PETWORTH HOUSING MARKET			JULY 2024

Zip Code(s): 20011
Units Sold 47	Active Inventory 275	Median Sale Price $799,000	Days On Market 46

Down -22% Vs. Year Ago	Up 20% Vs. Year Ago	Up Vs. Year Ago	Up 48% Vs. Year Ago


		Units Sold There was an increase in total units sold in July, with 47 sold this month in Petworth Real Estate versus 43 last month, an increase of 9%. This month's total units sold was lower than at this time last year, a decrease of 22% versus July 2023.
Active Inventory Versus last year, the total number of homes available this month is higher by 45 units or 20%. The total number of active inventory this July was 275 compared to 230 in July 2023. This month's supply remained stable as compared to last month.
		Median Sale Price Last July, the median sale price for Petworth Homes was $587,500. This July, the median sale price was $799,000, an increase of $211,500 compared to last year. The current median sold price is higher than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 103	Current Contracts 48	Sold Vs. List Price 99.4%	Months of Supply 5.9

Up 2% Vs. Year Ago	Down -20% Vs. Year Ago	Down -0.9% Vs. Year Ago	Up 53% Vs. Year Ago


		Months of Supply In July, there was 5.9 months of supply available in Petworth, compared to 3.8 in July 2023. That is an increase of 53% 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 103 homes newly listed for sale in Petworth compared to 101 in July 2023, an increase of 2%. There were 48 current contracts pending sale this July compared to 60 a year ago. The number of current contracts remained stable as compared to last July.
		Sale Price to List Price Ratio In July, the average sale price in Petworth was 99.4% of the average list price, which is 0.9% lower than at this time last year. Days on Market This month, the average number of days on market was 46, higher than the average last year, which was 31, an increase of 48%.


	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.