The Long & Foster Market Minute

Focus On: Olney and Oaklane Housing Market June 2021

Zip Code(s): 19150, 19138, 19126, 19141 and 19120
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 26%
Vs. Year Ago
Down -36%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -57%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 130 sold this month in Olney and Oaklane Real Estate versus 106 last month, an increase of 23%. This month's total units sold was higher than at this time last year, an increase of 26% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 99 units or 36%. The total number of active inventory this June was 178 compared to 277 in June 2020. This month's total of 178 is lower than the previous month's total supply of available inventory of 200, a decrease of 11%.

Median Sale Price
Last June, the median sale price for Olney and Oaklane Homes was $154,900. This June, the median sale price was $185,000, an increase of 19% or $30,100 compared to last year. The current median sold price is 2% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -2%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Down -49%
Vs. Year Ago

Months of Supply
In June, there was 1.4 months of supply available in Olney and Oaklane, compared to 2.7 in June 2020. That is a decrease of 49% 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 173 homes newly listed for sale in Olney and Oaklane compared to 176 in June 2020, a decrease of 2%. There were 143 current contracts pending sale this June compared to 137 a year ago. The number of current contracts is 4% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Olney and Oaklane was 99.8% of the average list price, which is 1.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 58, a decrease of 57%.

The Long & Foster Market Minute Olney and Oaklane are defined as properties listed in zip code/s 19150, 19138, 19126, 19141 and 19120.
*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.