The Long & Foster Market Minute

Focus On: Petworth Housing Market June 2021

Zip Code(s): 20011
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -4%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -26%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 85 sold this month in Petworth Real Estate versus 83 last month, an increase of 2%. This month's total units sold was lower than at this time last year, a decrease of 4% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 13 units or 10%. The total number of active inventory this June was 117 compared to 130 in June 2020. This month's total of 117 is higher than the previous month's total supply of available inventory of 108, an increase of 8%.

Median Sale Price
Last June, the median sale price for Petworth Homes was $665,000. This June, the median sale price was $765,000, an increase of 15% or $100,000 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 13%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 2.8%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 1.4 months of supply available in 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 139 homes newly listed for sale in Petworth compared to 123 in June 2020, an increase of 13%. There were 86 current contracts pending sale this June compared to 105 a year ago. The number of current contracts is 18% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Petworth was 103.8% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 27, a decrease of 26%.

The Long & Foster Market Minute Petworth are defined as properties listed in zip code/s 20011.
*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.