The Long & Foster Market Minute

Focus On: Chestnut Hill and Mt. Airy Housing Market June 2021

Zip Code(s): 19118 and 19119
Units Sold
46
Active Inventory
57
Median Sale Price
$501,750
Days On Market
13
Up 15%
Vs. Year Ago
Down -46%
Vs. Year Ago
Up
Vs. Year Ago
Down -59%
Vs. Year Ago

Units Sold
The number of units sold remained stable in June, with 46 sold this month in Chestnut Hill and Mt. Airy Real Estate. This month's total units sold was higher than at this time last year, an increase of 8% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 48 units or 46%. The total number of active inventory this June was 57 compared to 105 in June 2020. This month's total of 57 is lower than the previous month's total supply of available inventory of 63, a decrease of 10%.

Median Sale Price
Last June, the median sale price for Chestnut Hill and Mt. Airy Homes was $355,000. This June, the median sale price was $501,750, an increase of $146,750 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
60
Current Contracts
50
Sold Vs. List Price
104.0%
Months of Supply
1.2
Down -8%
Vs. Year Ago
No Change
Vs. Year Ago
Up
Vs. Year Ago
Down -53%
Vs. Year Ago

Months of Supply
In June, there was 1.2 months of supply available in Chestnut Hill and Mt. Airy, compared to 2.6 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 60 homes newly listed for sale in Chestnut Hill and Mt. Airy compared to 65 in June 2020, a decrease of 8%. There were 50 current contracts pending sale this June, consistent with the volume a year ago. The number of current contracts is 9% lower than last month.

Sale Price to List Price Ratio
In June, the average sale price in Chestnut Hill and Mt. Airy was 104.0% 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 13, lower than the average last year, which was 32, a decrease of 59%.

The Long & Foster Market Minute Chestnut Hill and Mt. Airy are defined as properties listed in zip code/s 19118 and 19119.
*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.