The Long & Foster Market Minute

Focus On: Mercer County Housing Market June 2021

Units Sold
492
Active Inventory
608
Median Sale Price
$372,500
Days On Market
22
Up
Vs. Year Ago
Down -35%
Vs. Year Ago
Up 20%
Vs. Year Ago
Down -57%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 492 sold this month in Mercer County 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 lower by 326 units or 35%. The total number of active inventory this June was 608 compared to 934 in June 2020. This month's total of 608 is higher than the previous month's total supply of available inventory of 584, an increase of 4%.

Median Sale Price
Last June, the median sale price for Mercer County Homes was $309,950. This June, the median sale price was $372,500, an increase of 20% or $62,550 compared to last year. The current median sold price is 14% higher 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
646
Current Contracts
522
Sold Vs. List Price
102.6%
Months of Supply
1.2
Up 21%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up
Vs. Year Ago
Down -59%
Vs. Year Ago

Months of Supply
In June, there was 1.2 months of supply available in Mercer County, compared to 3.1 in June 2020. That is a decrease of 60% 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 646 homes newly listed for sale in Mercer County compared to 532 in June 2020, an increase of 21%. There were 522 current contracts pending sale this June compared to 469 a year ago. The number of current contracts is 11% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Mercer County was 102.6% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 51, a decrease of 57%.

The Long & Foster Market Minute
*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.