The Long & Foster Market Minute

FOCUS ON: SHEPHERD PARK AND PETWORTH HOUSING MARKET APRIL 2024

Zip Code(s): 20011 and 20012
Units Sold
63
Active Inventory
286
Median Sale Price
$799,900
Days On Market
35
Down -30%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 3%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 63 sold this month in Shepherd Park and Petworth Real Estate versus 59 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 30% versus April 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 5%. The total number of active inventory this April was 286 compared to 301 in April 2023. This month's supply remained stable as compared to last month.

Median Sale Price
Last April, the median sale price for Shepherd Park and Petworth Homes was $692,500. This April, the median sale price was $799,900, an increase of 16% or $107,400 compared to last year. The current median sold price is 22% higher than in March.

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


New Listings
141
Current Contracts
68
Sold Vs. List Price
99.7%
Months of Supply
4.5
Down -7%
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 36%
Vs. Year Ago

Months of Supply
In April, there was 4.5 months of supply available in Shepherd Park and Petworth, compared to 3.3 in April 2023. That is an increase of 36% 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 141 homes newly listed for sale in Shepherd Park and Petworth compared to 152 in April 2023, a decrease of 7%. There were 68 current contracts pending sale this April compared to 99 a year ago. The number of current contracts is 31% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Shepherd Park and Petworth was 99.7% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 35, higher than the average last year, which was 34, an increase of 3%.

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.