The Long & Foster Market Minute

Focus On: New Freedom, Glen Rock, and Seven Valleys Housing Market June 2021

Zip Code(s): 17349, 17327, 17360, 17361, 17342 and 17355
Units Sold
41
Active Inventory
31
Median Sale Price
$265,000
Days On Market
9
Up 5%
Vs. Year Ago
Down -61%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -80%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 41 sold this month in New Freedom, Glen Rock, and Seven Valleys Real Estate versus 35 last month, an increase of 17%. This month's total units sold was higher than at this time last year, an increase of 5% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 49 units or 61%. The total number of active inventory this June was 31 compared to 80 in June 2020. This month's total of 31 is lower than the previous month's total supply of available inventory of 36, a decrease of 14%.

Median Sale Price
Last June, the median sale price for New Freedom, Glen Rock, and Seven Valleys Homes was $280,000. This June, the median sale price was $265,000, a decrease of 5% or $15,000 compared to last year. The current median sold price is 13% 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
41
Current Contracts
43
Sold Vs. List Price
102.6%
Months of Supply
0.8
Down -41%
Vs. Year Ago
Down -32%
Vs. Year Ago
Up 3.2%
Vs. Year Ago
Down -63%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in New Freedom, Glen Rock, and Seven Valleys, compared to 2.1 in June 2020. That is a decrease of 63% 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 41 homes newly listed for sale in New Freedom, Glen Rock, and Seven Valleys compared to 69 in June 2020, a decrease of 41%. There were 43 current contracts pending sale this June compared to 63 a year ago. The number of current contracts is 32% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in New Freedom, Glen Rock, and Seven Valleys was 102.6% of the average list price, which is 3.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 9, lower than the average last year, which was 44, a decrease of 80%.

The Long & Foster Market Minute New Freedom, Glen Rock, and Seven Valleys are defined as properties listed in zip code/s 17349, 17327, 17360, 17361, 17342 and 17355.
*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.