The Long & Foster Market Minute

Focus On: Mainline Housing Market June 2021

Zip Code(s): 19010, 19085, 19035 and 19041
Units Sold
79
Active Inventory
105
Median Sale Price
$965,000
Days On Market
24
Up
Vs. Year Ago
Down -46%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -59%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 79 sold this month in Mainline 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 91 units or 46%. The total number of active inventory this June was 105 compared to 196 in June 2020. This month's total of 105 is higher than the previous month's total supply of available inventory of 104, an increase of 1%.

Median Sale Price
Last June, the median sale price for Mainline Homes was $920,000. This June, the median sale price was $965,000, an increase of 5% or $45,000 compared to last year. The current median sold price is 22% 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
85
Current Contracts
62
Sold Vs. List Price
98.0%
Months of Supply
1.3
Down -9%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Down -77%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Mainline, compared to 5.8 in June 2020. That is a decrease of 77% 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 85 homes newly listed for sale in Mainline compared to 93 in June 2020, a decrease of 9%. There were 62 current contracts pending sale this June compared to 65 a year ago. The number of current contracts is 5% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Mainline was 98.0% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 24, lower than the average last year, which was 59, a decrease of 59%.

The Long & Foster Market Minute Mainline are defined as properties listed in zip code/s 19010, 19085, 19035 and 19041.
*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.