The Long & Foster Market Minute

Focus On: Morris Park Housing Market June 2021

Zip Code(s): 19151
Units Sold
27
Active Inventory
31
Median Sale Price
$195,000
Days On Market
12
Up
Vs. Year Ago
Down -11%
Vs. Year Ago
Up
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in June, with 27 sold this month in Morris Park 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 4 units or 11%. The total number of active inventory this June was 31 compared to 35 in June 2020. This month's total of 31 is higher than the previous month's total supply of available inventory of 30, an increase of 3%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last June, the median sale price for Morris Park Homes was $125,250. This June, the median sale price was $195,000, an increase of $69,750 compared to last year. The current median sold price is lower 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
28
Current Contracts
21
Sold Vs. List Price
102.8%
Months of Supply
1.1
Up 17%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up
Vs. Year Ago
Down -67%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Morris Park, compared to 3.5 in June 2020. That is a decrease of 67% 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 28 homes newly listed for sale in Morris Park compared to 24 in June 2020, an increase of 17%. There were 21 current contracts pending sale this June compared to 23 a year ago. The number of current contracts is 9% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Morris Park was 102.8% 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 12, lower than the average last year, which was 26. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Morris Park are defined as properties listed in zip code/s 19151.
*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.