The Long & Foster Market Minute

Focus On: West Oak Lane and Cedarbrook Housing Market March 2021

Zip Code(s): 19150 and 19138
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -11%
Vs. Year Ago
Down -68%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 40 sold this month in West Oak Lane and Cedarbrook Real Estate versus 32 last month, an increase of 25%. This month's total units sold was lower than at this time last year, a decrease of 11% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 100 units or 68%. The total number of active inventory this March was 48 compared to 148 in March 2020. This month's total of 48 is lower than the previous month's total supply of available inventory of 70, a decrease of 31%.

Median Sale Price
Last March, the median sale price for West Oak Lane and Cedarbrook Homes was $175,000. This March, the median sale price was approximately the same at $186,000. The current median sold price is 6% higher than in March 2020.

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
Down -5%
Vs. Year Ago
Up 36%
Vs. Year Ago
No Change
Vs. Year Ago
Down -64%
Vs. Year Ago

Months of Supply
In March, there was 1.2 months of supply available in West Oak Lane and Cedarbrook, compared to 3.3 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 59 homes newly listed for sale in West Oak Lane and Cedarbrook compared to 62 in March 2020, a decrease of 5%. There were 64 current contracts pending sale this March compared to 47 a year ago. The number of current contracts is 36% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in West Oak Lane and Cedarbrook was 97.5% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 35, lower than the average last year, which was 66, a decrease of 47%.

The Long & Foster Market Minute West Oak Lane and Cedarbrook are defined as properties listed in zip code/s 19150 and 19138.
*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.