The Long & Foster Market Minute

Focus On: Longmead Farms Housing Market March 2021

Zip Code(s): 19154
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -85%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -18%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 37 sold this month in Longmead Farms Real Estate. This month's total units sold was higher than at this time last year, an increase from March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 34 units or 85%. The total number of active inventory this March was 6 compared to 40 in March 2020. This month's total of 6 is lower than the previous month's total supply of available inventory of 13, a decrease of 54%.

Median Sale Price
Last March, the median sale price for Longmead Farms Homes was $245,000. This March, the median sale price was $265,000, an increase of 8% or $20,000 compared to last year. The current median sold price is 1% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 58%
Vs. Year Ago
Up 81%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Down -92%
Vs. Year Ago

Months of Supply
In March, there was 0.2 months of supply available in Longmead Farms, compared to 2.1 in March 2020. That is a decrease of 92% 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 52 homes newly listed for sale in Longmead Farms compared to 33 in March 2020, an increase of 58%. There were 56 current contracts pending sale this March compared to 31 a year ago. The number of current contracts is 81% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Longmead Farms was 100.6% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 17, a decrease of 18%.

The Long & Foster Market Minute Longmead Farms are defined as properties listed in zip code/s 19154.
*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.