The Long & Foster Market Minute

Focus On: South Philadelphia Housing Market June 2021

Zip Code(s): 19146, 19147, 19145, 19148 and 19112
Units Sold
446
Active Inventory
806
Median Sale Price
$368,000
Days On Market
30
Up
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -49%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 446 sold this month in South Philadelphia 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 268 units or 25%. The total number of active inventory this June was 806 compared to 1,074 in June 2020. This month's total of 806 is lower than the previous month's total supply of available inventory of 811, a decrease of 1%.

Median Sale Price
Last June, the median sale price for South Philadelphia Homes was $362,500. This June, the median sale price was $368,000, an increase of 2% or $5,500 compared to last year. The current median sold price is 1% 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
492
Current Contracts
328
Sold Vs. List Price
98.8%
Months of Supply
1.8
Down -12%
Vs. Year Ago
No Change
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Down -65%
Vs. Year Ago

Months of Supply
In June, there was 1.8 months of supply available in South Philadelphia, compared to 5.2 in June 2020. That is a decrease of 65% 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 492 homes newly listed for sale in South Philadelphia compared to 562 in June 2020, a decrease of 12%. There were 328 current contracts pending sale this June, consistent with the volume a year ago. The number of current contracts is 17% lower than last month.

Sale Price to List Price Ratio
In June, the average sale price in South Philadelphia was 98.8% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 30, lower than the average last year, which was 59, a decrease of 49%.

The Long & Foster Market Minute South Philadelphia are defined as properties listed in zip code/s 19146, 19147, 19145, 19148 and 19112.
*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.