The Long & Foster Market Minute

Focus On: Penn Quarter and Shaw Housing Market June 2021

Zip Code(s): 20001
Units Sold
113
Active Inventory
177
Median Sale Price
$726,000
Days On Market
21
Up
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 113 sold this month in Penn Quarter and Shaw Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 8 units or 5%. The total number of active inventory this June was 177 compared to 169 in June 2020. This month's total of 177 is higher than the previous month's total supply of available inventory of 173, an increase of 2%.

Median Sale Price
Last June, the median sale price for Penn Quarter and Shaw Homes was $698,500. This June, the median sale price was $726,000, an increase of 4% or $27,500 compared to last year. The current median sold price is 3% 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
173
Current Contracts
96
Sold Vs. List Price
100.8%
Months of Supply
1.6
Up 20%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -54%
Vs. Year Ago

Months of Supply
In June, there was 1.6 months of supply available in Penn Quarter and Shaw, compared to 3.4 in June 2020. That is a decrease of 54% 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 173 homes newly listed for sale in Penn Quarter and Shaw compared to 144 in June 2020, an increase of 20%. There were 96 current contracts pending sale this June compared to 82 a year ago. The number of current contracts is 17% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Penn Quarter and Shaw was 100.8% of the average list price, which is 2.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 26, a decrease of 19%.

The Long & Foster Market Minute Penn Quarter and Shaw are defined as properties in zip code 20001 and includes, but is not limited to these neighborhoods: Penn Quarter, Shaw, and LeDroit Park.
*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.