The Long & Foster Market Minute

Focus On: Shepherd Park and Petworth Housing Market January 2019

Zip Code(s): 20011 and 20012
Units Sold
70
Active Inventory
161
Median Sale Price
$597,500
Days On Market
44
Down -3%
Vs. Year Ago
Up 34%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -8%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 70 sold this month in Shepherd Park and Petworth Real Estate versus 79 last month, a decrease of 11%. This month's total units sold was lower than at this time last year, a decrease of 3% versus January 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 41 units or 34%. The total number of active inventory this January was 161 compared to 120 in January 2018. This month's total of 161 is lower than the previous month's total supply of available inventory of 241, a decrease of 33%.

Median Sale Price
Last January, the median sale price for Shepherd Park and Petworth Homes was $602,500. This January, the median sale price was approximately the same at $597,500. The current median sold price is 1% lower than in January 2018.

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


New Listings
91
Current Contracts
80
Sold Vs. List Price
99.0%
Months of Supply
2.3
Down -5%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Up 38%
Vs. Year Ago

Months of Supply
In January, there was 2.3 months of supply available in Shepherd Park and Petworth, compared to 1.7 in January 2018. That is an increase of 38% 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 91 homes newly listed for sale in Shepherd Park and Petworth compared to 96 in January 2018, a decrease of 5%. There were 80 current contracts pending sale this January compared to 70 a year ago. The number of current contracts is 14% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Shepherd Park and Petworth was 99.0% 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 44, lower than the average last year, which was 48, a decrease of 8%.

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.