The Long & Foster Market Minute

Focus On: Pike Creek, Elsmere, and Newport Housing Market June 2021

Zip Code(s): 19804, 19805 and 19808
Units Sold
156
Active Inventory
135
Median Sale Price
$242,500
Days On Market
14
Up 14%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -50%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 156 sold this month in Pike Creek, Elsmere, and Newport Real Estate versus 150 last month, an increase of 4%. This month's total units sold was higher than at this time last year, an increase of 14% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 5%. The total number of active inventory this June was 135 compared to 142 in June 2020. This month's total of 135 is higher than the previous month's total supply of available inventory of 98, an increase of 38%.

Median Sale Price
Last June, the median sale price for Pike Creek, Elsmere, and Newport Homes was $228,000. This June, the median sale price was $242,500, an increase of 6% or $14,500 compared to last year. The current median sold price is 3% lower than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
195
Current Contracts
140
Sold Vs. List Price
100.7%
Months of Supply
0.9
Up 28%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Down -16%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Pike Creek, Elsmere, and Newport, compared to 1.0 in June 2020. That is a decrease of 17% 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 195 homes newly listed for sale in Pike Creek, Elsmere, and Newport compared to 152 in June 2020, an increase of 28%. There were 140 current contracts pending sale this June compared to 144 a year ago. The number of current contracts is 3% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Pike Creek, Elsmere, and Newport was 100.7% of the average list price, which is 1.9% 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 28, a decrease of 50%.

The Long & Foster Market Minute Pike Creek, Elsmere, and Newport are defined as properties listed in zip code/s 19804, 19805 and 19808.
*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.