The Long & Foster Market Minute

Focus On: Somerton and Bustleton Housing Market June 2021

Zip Code(s): 19116 and 19115
Units Sold
55
Active Inventory
54
Median Sale Price
$330,000
Days On Market
14
Up
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down -48%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 55 sold this month in Somerton and Bustleton 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 5 units or 8%. The total number of active inventory this June was 54 compared to 59 in June 2020. This month's total of 54 is higher than the previous month's total supply of available inventory of 42, an increase of 29%.

Median Sale Price
Last June, the median sale price for Somerton and Bustleton Homes was $270,000. This June, the median sale price was $330,000, an increase of 22% or $60,000 compared to last year. The current median sold price is 4% 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
93
Current Contracts
72
Sold Vs. List Price
101.6%
Months of Supply
1.0
Up 22%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -54%
Vs. Year Ago

Months of Supply
In June, there was 1.0 months of supply available in Somerton and Bustleton, compared to 2.1 in June 2020. That is a decrease of 53% 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 93 homes newly listed for sale in Somerton and Bustleton compared to 76 in June 2020, an increase of 22%. There were 72 current contracts pending sale this June compared to 77 a year ago. The number of current contracts is 6% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Somerton and Bustleton was 101.6% of the average list price, which is 2.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 27, a decrease of 48%.

The Long & Foster Market Minute Somerton and Bustleton are defined as properties listed in zip code/s 19116 and 19115.
*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.