The Long & Foster Market Minute

Focus On: Far Northeast Philadelphia Housing Market June 2021

Zip Code(s): 19116, 19115, 19114 and 19154
Units Sold
134
Active Inventory
105
Median Sale Price
$285,000
Days On Market
12
Up
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -60%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 134 sold this month in Far Northeast Philadelphia 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 22 units or 17%. The total number of active inventory this June was 105 compared to 127 in June 2020. This month's total of 105 is higher than the previous month's total supply of available inventory of 87, an increase of 21%.

Median Sale Price
Last June, the median sale price for Far Northeast Philadelphia Homes was $257,750. This June, the median sale price was $285,000, an increase of 11% or $27,250 compared to last year. The current median sold price is 2% 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
194
Current Contracts
160
Sold Vs. List Price
101.1%
Months of Supply
0.8
Up 30%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 2.1%
Vs. Year Ago
Down -53%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in Far Northeast Philadelphia, compared to 1.7 in June 2020. That is a decrease of 53% 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 194 homes newly listed for sale in Far Northeast Philadelphia compared to 149 in June 2020, an increase of 30%. There were 160 current contracts pending sale this June compared to 157 a year ago. The number of current contracts is 2% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Far Northeast Philadelphia was 101.1% of the average list price, which is 2.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 30, a decrease of 60%.

The Long & Foster Market Minute Far Northeast Philadelphia are defined as properties listed in zip code/s 19116, 19115, 19114 and 19154.
*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.