The Long & Foster Market Minute

Focus On: South Philadelphia East Housing Market March 2021

Zip Code(s): 19148
Units Sold
94
Active Inventory
184
Median Sale Price
$300,000
Days On Market
54
Up
Vs. Year Ago
Down -24%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 94 sold this month in South Philadelphia East 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 59 units or 24%. The total number of active inventory this March was 184 compared to 243 in March 2020. This month's total of 184 is lower than the previous month's total supply of available inventory of 217, a decrease of 15%.

Median Sale Price
Last March, the median sale price for South Philadelphia East Homes was $292,000. This March, the median sale price was $300,000, an increase of 3% or $8,000 compared to last year. The current median sold price is 9% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
112
Current Contracts
103
Sold Vs. List Price
97.5%
Months of Supply
2.0
Up 19%
Vs. Year Ago
Up 87%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In March, there was 2.0 months of supply available in South Philadelphia East, compared to 3.6 in March 2020. That is a decrease of 46% 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 112 homes newly listed for sale in South Philadelphia East compared to 94 in March 2020, an increase of 19%. There were 103 current contracts pending sale this March compared to 55 a year ago. The number of current contracts is 87% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in South Philadelphia East was 97.5% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 54, lower than the average last year, which was 62, a decrease of 13%.

The Long & Foster Market Minute South Philadelphia East are defined as properties listed in zip code/s 19148.
*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.