The Long & Foster Market Minute

Focus On: Bridgeport and King of Prussia Housing Market June 2021

Zip Code(s): 19406 and 19405
Units Sold
49
Active Inventory
48
Median Sale Price
$422,000
Days On Market
25
Up
Vs. Year Ago
Down -35%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 49 sold this month in Bridgeport and King of Prussia 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 26 units or 35%. The total number of active inventory this June was 48 compared to 74 in June 2020. This month's total of 48 is lower than the previous month's total supply of available inventory of 53, a decrease of 9%.

Median Sale Price
Last June, the median sale price for Bridgeport and King of Prussia Homes was $344,700. This June, the median sale price was $422,000, an increase of 22% or $77,300 compared to last year. The current median sold price is 22% 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
39
Current Contracts
42
Sold Vs. List Price
102.6%
Months of Supply
1.0
Down -7%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 4.6%
Vs. Year Ago
Down -66%
Vs. Year Ago

Months of Supply
In June, there was 1.0 months of supply available in Bridgeport and King of Prussia, compared to 2.8 in June 2020. That is a decrease of 66% 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 39 homes newly listed for sale in Bridgeport and King of Prussia compared to 42 in June 2020, a decrease of 7%. There were 42 current contracts pending sale this June compared to 35 a year ago. The number of current contracts is 20% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Bridgeport and King of Prussia was 102.6% of the average list price, which is 4.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 27, a decrease of 7%.

The Long & Foster Market Minute Bridgeport and King of Prussia are defined as properties listed in zip code/s 19406 and 19405.
*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.