The Long & Foster Market Minute

Focus On: Shepherd Park and Petworth Housing Market October 2018

Zip Code(s): 20011 and 20012
Units Sold
85
Active Inventory
199
Median Sale Price
$561,000
Days On Market
48
Down -8%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 45%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 85 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 higher by 3 units or 2%. The total number of active inventory this October was 199 compared to 196 in October 2017. This month's total of 199 is higher than the previous month's total supply of available inventory of 182, an increase of 9%.

Median Sale Price
Last October, the median sale price for Shepherd Park and Petworth Homes was $570,000. This October, the median sale price was $561,000, a decrease of 2% or $9,000 compared to last year. The current median sold price is 12% lower than in September.

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


New Listings
169
Current Contracts
85
Sold Vs. List Price
99.8%
Months of Supply
2.3
Up 27%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Up 10%
Vs. Year Ago

Months of Supply
In October, there was 2.3 months of supply available in Shepherd Park and Petworth, compared to 2.1 in October 2017. That is an increase of 10% 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 169 homes newly listed for sale in Shepherd Park and Petworth compared to 133 in October 2017, an increase of 27%. There were 85 current contracts pending sale this October compared to 93 a year ago. The number of current contracts is 9% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Shepherd Park and Petworth was 99.8% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 48, higher than the average last year, which was 33, an increase of 45%.

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.