The Long & Foster Market Minute

Focus On: Southwest Philadelphia Housing Market June 2021

Zip Code(s): 19142 and 19153
Units Sold
24
Active Inventory
73
Median Sale Price
$146,000
Days On Market
22
Up 33%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 24 sold this month in Southwest Philadelphia Real Estate versus 29 last month, a decrease of 17%. This month's total units sold was higher than at this time last year, an increase of 33% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 5 units or 7%. The total number of active inventory this June was 73 compared to 68 in June 2020. This month's total of 73 is lower than the previous month's total supply of available inventory of 74, a decrease of 1%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last June, the median sale price for Southwest Philadelphia Homes was $110,000. This June, the median sale price was $146,000, an increase of $36,000 compared to last year. The current median sold price is 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
43
Current Contracts
35
Sold Vs. List Price
100.0%
Months of Supply
3.0
Up 43%
Vs. Year Ago
Up 21%
Vs. Year Ago
Up
Vs. Year Ago
Down -20%
Vs. Year Ago

Months of Supply
In June, there was 3.0 months of supply available in Southwest Philadelphia, compared to 3.8 in June 2020. That is a decrease of 19% 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 43 homes newly listed for sale in Southwest Philadelphia compared to 30 in June 2020, an increase of 43%. There were 35 current contracts pending sale this June compared to 29 a year ago. The number of current contracts is 21% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Southwest Philadelphia was 100.0% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 53. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Southwest Philadelphia are defined as properties listed in zip code/s 19142 and 19153.
*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.