The Long & Foster Market Minute

Focus On: Richmond and Bridesburg Housing Market March 2021

Zip Code(s): 19134 and 19137
Units Sold
91
Active Inventory
192
Median Sale Price
$168,250
Days On Market
52
Up
Vs. Year Ago
Up 1%
Vs. Year Ago
Up
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 91 sold this month in Richmond and Bridesburg Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 1%. The total number of active inventory this March was 192 compared to 191 in March 2020. This month's total of 192 is lower than the previous month's total supply of available inventory of 207, a decrease of 7%.

Median Sale Price
Last March, the median sale price for Richmond and Bridesburg Homes was $117,000. This March, the median sale price was $168,250, an increase of $51,250 compared to last year. The current median sold price is 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
123
Current Contracts
101
Sold Vs. List Price
97.9%
Months of Supply
2.1
Up 45%
Vs. Year Ago
Up 115%
Vs. Year Ago
Up 2.9%
Vs. Year Ago
Down -41%
Vs. Year Ago

Months of Supply
In March, there was 2.1 months of supply available in Richmond and Bridesburg, compared to 3.6 in March 2020. That is a decrease of 41% 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 123 homes newly listed for sale in Richmond and Bridesburg compared to 85 in March 2020, an increase of 45%. There were 101 current contracts pending sale this March compared to 47 a year ago. The number of current contracts is 115% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Richmond and Bridesburg was 97.9% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 52, lower than the average last year, which was 63, a decrease of 17%.

The Long & Foster Market Minute Richmond and Bridesburg are defined as properties listed in zip code/s 19134 and 19137.
*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.