Petworth Townhouse Market Report for June 2018
If you have a townhome in the Petworth neighborhood in Washington DC and you're curious about what it might be worth, or you're trying to decide if now is the time to sell, take a look at what's happening in your market this month.
In Petworth, Washington, DC, the median sold price for Attached/Townhouse properties for June was $747,528, representing an increase of 5.8% compared to last month and an increase of 11.6% from Jun 2017. The average days on market for units sold in June was 19 days, 26% below the 5-year June average of 26 days. There was a 14.3% month over month decrease in new contract activity with 24 New Pendings; an 11.4% MoM decrease in All Pendings (new contracts + contracts carried over from May) to 31; and no change in supply with 32 active units.
This activity resulted in a Contract Ratio of 0.97 pendings per active listing, down from 1.09 in May and a decrease from 1.00 in June 2017. The Contract Ratio is 12% lower than the 5-year June average of 1.10. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.
Thinking about selling your Petworth Townhome?
The Hollish Hill Group has a marketing plan that just brought your neighbor 7 offers in 5 days. Learn how we could put our marketing plan to work for you.
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