The Long & Foster Market Minute

Focus On: South Philadelphia West Housing Market June 2021

Zip Code(s): 19145
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -62%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 71 sold this month in South Philadelphia West 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 41 units or 19%. The total number of active inventory this June was 173 compared to 214 in June 2020. This month's total of 173 is higher than the previous month's total supply of available inventory of 164, an increase of 5%.

Median Sale Price
Last June, the median sale price for South Philadelphia West Homes was $277,500. This June, the median sale price was $259,900, a decrease of 6% or $17,600 compared to last year. The current median sold price is 8% lower 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 -7%
Vs. Year Ago
Down -3%
Vs. Year Ago
No Change
Vs. Year Ago
Down -59%
Vs. Year Ago

Months of Supply
In June, there was 2.4 months of supply available in South Philadelphia West, compared to 5.9 in June 2020. That is a decrease of 59% 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 102 homes newly listed for sale in South Philadelphia West compared to 110 in June 2020, a decrease of 7%. There were 62 current contracts pending sale this June compared to 64 a year ago. The number of current contracts is 3% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in South Philadelphia West was 97.3% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 66, a decrease of 62%.

The Long & Foster Market Minute South Philadelphia West are defined as properties listed in zip code/s 19145.
*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.