The Long & Foster Market Minute

Focus On: Bensalem Housing Market March 2021

Zip Code(s): 19020
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 11%
Vs. Year Ago
Down -60%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -33%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 30 sold this month in Bensalem Real Estate versus 27 last month, an increase of 11%. This month's total units sold was higher than at this time last year, an increase of 11% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 24 units or 60%. The total number of active inventory this March was 16 compared to 40 in March 2020. This month's total of 16 is lower than the previous month's total supply of available inventory of 20, a decrease of 20%.

Median Sale Price
Last March, the median sale price for Bensalem Homes was $340,000. This March, the median sale price was $306,500, a decrease of 10% or $33,500 compared to last year. The current median sold price is 6% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 26%
Vs. Year Ago
Up 41%
Vs. Year Ago
Up 2.5%
Vs. Year Ago
Down -64%
Vs. Year Ago

Months of Supply
In March, there was 0.5 months of supply available in Bensalem, compared to 1.5 in March 2020. That is a decrease of 64% 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 49 homes newly listed for sale in Bensalem compared to 39 in March 2020, an increase of 26%. There were 48 current contracts pending sale this March compared to 34 a year ago. The number of current contracts is 41% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Bensalem was 100.8% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 43, a decrease of 33%.

The Long & Foster Market Minute Bensalem are defined as properties listed in zip code/s 19020.
*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.