The Long & Foster Market Minute

Focus On: South Philadelphia East Housing Market June 2021

Zip Code(s): 19148
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -16%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -39%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 100 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 40 units or 16%. The total number of active inventory this June was 212 compared to 252 in June 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for South Philadelphia East Homes was $304,000. This June, the median sale price was approximately the same at $276,250. The current median sold price is 9% lower than in June 2020.

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 -19%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -66%
Vs. Year Ago

Months of Supply
In June, there was 2.1 months of supply available in South Philadelphia East, compared to 6.1 in June 2020. That is a decrease of 66% 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 115 homes newly listed for sale in South Philadelphia East compared to 142 in June 2020, a decrease of 19%. There were 73 current contracts pending sale this June compared to 95 a year ago. The number of current contracts is 23% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in South Philadelphia East was 99.1% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 35, lower than the average last year, which was 57, a decrease of 39%.

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.