The Long & Foster Market Minute

Focus On: Oxford, Landenberg, and West Grove Housing Market March 2021

Zip Code(s): 19363, 19390, 19350, 19352, 19330, 19362, 19360, 19351, 19347, 19346 and 19318
Units Sold
51
Active Inventory
109
Median Sale Price
$387,000
Days On Market
33
Up 16%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down -48%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 51 sold this month in Oxford, Landenberg, and West Grove Real Estate versus 38 last month, an increase of 34%. This month's total units sold was higher than at this time last year, an increase of 16% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 75 units or 41%. The total number of active inventory this March was 109 compared to 184 in March 2020. This month's total of 109 is higher than the previous month's total supply of available inventory of 108, an increase of 1%.

Median Sale Price
Last March, the median sale price for Oxford, Landenberg, and West Grove Homes was $317,500. This March, the median sale price was $387,000, an increase of 22% or $69,500 compared to last year. The current median sold price is 17% 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
117
Current Contracts
99
Sold Vs. List Price
99.8%
Months of Supply
2.1
Up 63%
Vs. Year Ago
Up 98%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -49%
Vs. Year Ago

Months of Supply
In March, there was 2.1 months of supply available in Oxford, Landenberg, and West Grove, compared to 4.2 in March 2020. That is a decrease of 49% 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 117 homes newly listed for sale in Oxford, Landenberg, and West Grove compared to 72 in March 2020, an increase of 63%. There were 99 current contracts pending sale this March compared to 50 a year ago. The number of current contracts is 98% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Oxford, Landenberg, and West Grove was 99.8% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 33, lower than the average last year, which was 63, a decrease of 48%.

The Long & Foster Market Minute Oxford, Landenberg, and West Grove are defined as properties listed in zip code/s 19363, 19390, 19350, 19352, 19330, 19362, 19360, 19351, 19347, 19346 and 19318.
*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.