The Long & Foster Market Minute

Focus On: North Philadelphia and City Center Housing Market June 2021

Zip Code(s): 19121, 19122, 19123, 19130, 19132, 19133, 19102, 19103, 19106 and 19107
Units Sold
409
Active Inventory
1,127
Median Sale Price
$380,000
Days On Market
53
Up
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 409 sold this month in North Philadelphia and City Center 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 58 units or 5%. The total number of active inventory this June was 1,127 compared to 1,185 in June 2020. This month's total of 1,127 is lower than the previous month's total supply of available inventory of 1,154, a decrease of 2%.

Median Sale Price
Last June, the median sale price for North Philadelphia and City Center Homes was $377,500. This June, the median sale price was $380,000, an increase of 1% or $2,500 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
467
Current Contracts
295
Sold Vs. List Price
97.5%
Months of Supply
2.8
Down -5%
Vs. Year Ago
Up 19%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -62%
Vs. Year Ago

Months of Supply
In June, there was 2.8 months of supply available in North Philadelphia and City Center, compared to 7.2 in June 2020. That is a decrease of 62% 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 467 homes newly listed for sale in North Philadelphia and City Center compared to 490 in June 2020, a decrease of 5%. There were 295 current contracts pending sale this June compared to 247 a year ago. The number of current contracts is 19% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in North Philadelphia and City Center was 97.5% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 53, lower than the average last year, which was 60, a decrease of 12%.

The Long & Foster Market Minute North Philadelphia and City Center are defined as properties listed in zip code/s 19121, 19122, 19123, 19130, 19132, 19133, 19102, 19103, 19106 and 19107.
*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.