The Long & Foster Market Minute

Focus On: Kensington Housing Market June 2021

Zip Code(s): 19124, 19134, 19137 and 19125
Units Sold
248
Active Inventory
456
Median Sale Price
$216,000
Days On Market
32
Up
Vs. Year Ago
Down -4%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -30%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 248 sold this month in Kensington 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 19 units or 4%. The total number of active inventory this June was 456 compared to 475 in June 2020. This month's total of 456 is higher than the previous month's total supply of available inventory of 424, an increase of 8%.

Median Sale Price
Last June, the median sale price for Kensington Homes was $245,900. This June, the median sale price was $216,000, a decrease of 12% or $29,900 compared to last year. The current median sold price is 8% 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
346
Current Contracts
236
Sold Vs. List Price
98.8%
Months of Supply
1.8
Up 44%
Vs. Year Ago
Up 28%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -49%
Vs. Year Ago

Months of Supply
In June, there was 1.8 months of supply available in Kensington, compared to 3.6 in June 2020. That is a decrease of 49% 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 346 homes newly listed for sale in Kensington compared to 240 in June 2020, an increase of 44%. There were 236 current contracts pending sale this June compared to 185 a year ago. The number of current contracts is 28% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Kensington was 98.8% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 32, lower than the average last year, which was 46, a decrease of 30%.

The Long & Foster Market Minute Kensington are defined as properties listed in zip code/s 19124, 19134, 19137 and 19125.
*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.