The Long & Foster Market Minute

Focus On: Longmead Farms and Torresdale Housing Market June 2021

Zip Code(s): 19154 and 19114
Units Sold
79
Active Inventory
51
Median Sale Price
$276,000
Days On Market
10
Up
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -70%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 79 sold this month in Longmead Farms and Torresdale 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 17 units or 25%. The total number of active inventory this June was 51 compared to 68 in June 2020. This month's total of 51 is higher than the previous month's total supply of available inventory of 45, an increase of 13%.

Median Sale Price
Last June, the median sale price for Longmead Farms and Torresdale Homes was $255,000. This June, the median sale price was $276,000, an increase of 8% or $21,000 compared to last year. The current median sold price is 1% 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
101
Current Contracts
88
Sold Vs. List Price
100.7%
Months of Supply
0.6
Up 38%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Down -54%
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in Longmead Farms and Torresdale, compared to 1.4 in June 2020. That is a decrease of 54% 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 101 homes newly listed for sale in Longmead Farms and Torresdale compared to 73 in June 2020, an increase of 38%. There were 88 current contracts pending sale this June compared to 80 a year ago. The number of current contracts is 10% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Longmead Farms and Torresdale was 100.7% of the average list price, which is 1.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 10, lower than the average last year, which was 33, a decrease of 70%.

The Long & Foster Market Minute Longmead Farms and Torresdale are defined as properties listed in zip code/s 19154 and 19114.
*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.