The Long & Foster Market Minute

Focus On: Merchantville and Pennsauken Housing Market June 2021

Zip Code(s): 08110 and 08109
Units Sold
67
Active Inventory
48
Median Sale Price
$235,000
Days On Market
16
Up 34%
Vs. Year Ago
Down -43%
Vs. Year Ago
Up
Vs. Year Ago
Down -52%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 67 sold this month in Merchantville and Pennsauken 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 36 units or 43%. The total number of active inventory this June was 48 compared to 84 in June 2020. This month's total of 48 is lower than the previous month's total supply of available inventory of 57, a decrease of 16%.

Median Sale Price
Last June, the median sale price for Merchantville and Pennsauken Homes was $172,500. This June, the median sale price was $235,000, an increase of $62,500 compared to last year. The current median sold price is 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
49
Current Contracts
47
Sold Vs. List Price
104.7%
Months of Supply
0.7
Down -11%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up
Vs. Year Ago
Down -57%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Merchantville and Pennsauken, compared to 1.7 in June 2020. That is a decrease of 57% 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 49 homes newly listed for sale in Merchantville and Pennsauken compared to 55 in June 2020, a decrease of 11%. There were 47 current contracts pending sale this June compared to 51 a year ago. The number of current contracts is 8% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Merchantville and Pennsauken was 104.7% 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 16, lower than the average last year, which was 33, a decrease of 52%.

The Long & Foster Market Minute Merchantville and Pennsauken are defined as properties listed in zip code/s 08110 and 08109.
*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.