The Long & Foster Market Minute

Focus On: Shepherd Park and Petworth Housing Market April 2019

Zip Code(s): 20011 and 20012
Units Sold
98
Active Inventory
172
Median Sale Price
$634,950
Days On Market
33
Up 13%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 57%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 98 sold this month in Shepherd Park and Petworth Real Estate versus 77 last month, an increase of 27%. This month's total units sold was higher than at this time last year, an increase of 13% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 21 units or 14%. The total number of active inventory this April was 172 compared to 151 in April 2018. This month's total of 172 is lower than the previous month's total supply of available inventory of 198, a decrease of 13%.

Median Sale Price
Last April, the median sale price for Shepherd Park and Petworth Homes was $579,950. This April, the median sale price was $634,950, an increase of 9% or $55,000 compared to last year. The current median sold price is 7% lower 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
165
Current Contracts
128
Sold Vs. List Price
100.7%
Months of Supply
1.8
Up 31%
Vs. Year Ago
Up 38%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In April, there was 1.8 months of supply available in Shepherd Park and Petworth. The amount of supply is similar compared to 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 165 homes newly listed for sale in Shepherd Park and Petworth compared to 126 in April 2018, an increase of 31%. There were 128 current contracts pending sale this April compared to 93 a year ago. The number of current contracts is 38% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Shepherd Park and Petworth was 100.7% 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 21, an increase of 57%.

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.