The Long & Foster Market Minute

Focus On: Bear Housing Market March 2021

Zip Code(s): 19701, 19733 and 19708
Units Sold
32
Active Inventory
15
Median Sale Price
$313,750
Days On Market
12
Down -22%
Vs. Year Ago
Down -67%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 32 sold this month in Bear Real Estate versus 29 last month, an increase of 10%. This month's total units sold was lower than at this time last year, a decrease of 22% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 31 units or 67%. The total number of active inventory this March was 15 compared to 46 in March 2020. This month's total of 15 is lower than the previous month's total supply of available inventory of 18, a decrease of 17%.

Median Sale Price
Last March, the median sale price for Bear Homes was $294,900. This March, the median sale price was $313,750, an increase of 6% or $18,850 compared to last year. The current median sold price is 14% higher than in February.

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


New Listings
58
Current Contracts
57
Sold Vs. List Price
99.2%
Months of Supply
0.5
Up 57%
Vs. Year Ago
Up 73%
Vs. Year Ago
No Change
Vs. Year Ago
Down -58%
Vs. Year Ago

Months of Supply
In March, there was 0.5 months of supply available in Bear, compared to 1.1 in March 2020. That is a decrease of 58% 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 58 homes newly listed for sale in Bear compared to 37 in March 2020, an increase of 57%. There were 57 current contracts pending sale this March compared to 33 a year ago. The number of current contracts is 73% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Bear was 99.2% 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 12, lower than the average last year, which was 46. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Bear are defined as properties listed in zip code/s 19701, 19733 and 19708.
*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.