The Long & Foster Market Minute

Focus On: City Line Avenue, Mt. Airy, and East Falls Housing Market March 2021

Zip Code(s): 19144, 19129 and 19140
Units Sold
66
Active Inventory
125
Median Sale Price
$148,500
Days On Market
36
Up 6%
Vs. Year Ago
Down -35%
Vs. Year Ago
Down -22%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 66 sold this month in City Line Avenue, Mt. Airy, and East Falls Real Estate versus 63 last month, an increase of 5%. This month's total units sold was higher than at this time last year, an increase of 6% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 67 units or 35%. The total number of active inventory this March was 125 compared to 192 in March 2020. This month's total of 125 is higher than the previous month's total supply of available inventory of 106, an increase of 18%.

Median Sale Price
Last March, the median sale price for City Line Avenue, Mt. Airy, and East Falls Homes was $191,250. This March, the median sale price was $148,500, a decrease of 22% or $42,750 compared to last year. The current median sold price is 7% lower 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
108
Current Contracts
76
Sold Vs. List Price
96.7%
Months of Supply
1.9
Up 46%
Vs. Year Ago
Up 38%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In March, there was 1.9 months of supply available in City Line Avenue, Mt. Airy, and East Falls, compared to 3.1 in March 2020. That is a decrease of 39% 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 108 homes newly listed for sale in City Line Avenue, Mt. Airy, and East Falls compared to 74 in March 2020, an increase of 46%. There were 76 current contracts pending sale this March compared to 55 a year ago. The number of current contracts is 38% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in City Line Avenue, Mt. Airy, and East Falls was 96.7% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 36, lower than the average last year, which was 41, a decrease of 12%.

The Long & Foster Market Minute City Line Avenue, Mt. Airy, and East Falls are defined as properties listed in zip code/s 19144, 19129 and 19140.
*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.