The Long & Foster Market Minute

Focus On: Shepherd Park and Petworth Housing Market September 2018

Zip Code(s): 20011 and 20012
Units Sold
62
Active Inventory
179
Median Sale Price
$640,322
Days On Market
33
Down -19%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 18%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 62 sold this month in Shepherd Park 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 15 units or 8%. The total number of active inventory this September was 179 compared to 194 in September 2017. This month's total of 179 is higher than the previous month's total supply of available inventory of 167, an increase of 7%.

Median Sale Price
Last September, the median sale price for Shepherd Park and Petworth Homes was $586,900. This September, the median sale price was $640,322, an increase of 9% or $53,422 compared to last year. The current median sold price is 9% higher than in August.

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


New Listings
163
Current Contracts
94
Sold Vs. List Price
98.3%
Months of Supply
2.9
Up 17%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
Up 15%
Vs. Year Ago

Months of Supply
In September, there was 2.9 months of supply available in Shepherd Park and Petworth, compared to 2.5 in September 2017. That is an increase of 15% 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 163 homes newly listed for sale in Shepherd Park and Petworth compared to 139 in September 2017, an increase of 17%. There were 94 current contracts pending sale this September compared to 88 a year ago. The number of current contracts is 7% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Shepherd Park and Petworth was 98.3% 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 33, higher than the average last year, which was 28, an increase of 18%.

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.