The Long & Foster Market Minute

Focus On: Shepherd Park and Petworth Housing Market June 2020

Zip Code(s): 20011 and 20012
Units Sold
99
Active Inventory
130
Median Sale Price
$662,500
Days On Market
25
Down -6%
Vs. Year Ago
Down -47%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 47%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 99 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 115 units or 47%. The total number of active inventory this June was 130 compared to 245 in June 2019. This month's total of 130 is lower than the previous month's total supply of available inventory of 152, a decrease of 14%.

Median Sale Price
Last June, the median sale price for Shepherd Park and Petworth Homes was $644,000. This June, the median sale price was $662,500, an increase of 3% or $18,500 compared to last year. The current median sold price is 8% lower than in May.

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


New Listings
133
Current Contracts
124
Sold Vs. List Price
101.0%
Months of Supply
1.3
Down -17%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -44%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Shepherd Park and Petworth, compared to 2.3 in June 2019. That is a decrease of 44% 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 133 homes newly listed for sale in Shepherd Park and Petworth compared to 160 in June 2019, a decrease of 17%. There were 124 current contracts pending sale this June compared to 109 a year ago. The number of current contracts is 14% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Shepherd Park and Petworth was 101.0% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, higher than the average last year, which was 17, an increase of 47%.

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 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.