The Long & Foster Market Minute

Focus On: Longmead Farms Housing Market June 2021

Zip Code(s): 19154
Units Sold
38
Active Inventory
27
Median Sale Price
$284,000
Days On Market
8
Up
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in June, with 38 sold this month in Longmead Farms Real Estate. This month's total units sold was higher than at this time last year, an increase from June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 9 units or 25%. The total number of active inventory this June was 27 compared to 36 in June 2020. This month's total of 27 is higher than the previous month's total supply of available inventory of 20, an increase of 35%.

Median Sale Price
Last June, the median sale price for Longmead Farms Homes was $250,000. This June, the median sale price was $284,000, an increase of 14% or $34,000 compared to last year. The current median sold price is 3% 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
59
Current Contracts
49
Sold Vs. List Price
101.3%
Months of Supply
0.7
Up 59%
Vs. Year Ago
Up 26%
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Down -58%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Longmead Farms, compared to 1.7 in June 2020. That is a decrease of 59% 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 59 homes newly listed for sale in Longmead Farms compared to 37 in June 2020, an increase of 59%. There were 49 current contracts pending sale this June compared to 39 a year ago. The number of current contracts is 26% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Longmead Farms was 101.3% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 8, lower than the average last year, which was 25. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Longmead Farms are defined as properties listed in zip code/s 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.