The Long & Foster Market Minute

Focus On: West Oak Lane and Cedarbrook Housing Market June 2021

Zip Code(s): 19150 and 19138
Units Sold
40
Active Inventory
66
Median Sale Price
$202,450
Days On Market
42
Up 11%
Vs. Year Ago
Down -45%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
The number of units sold remained stable in June, with 40 sold this month in West Oak Lane and Cedarbrook Real Estate. This month's total units sold was higher than at this time last year, an increase of 6% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 55 units or 45%. The total number of active inventory this June was 66 compared to 121 in June 2020. This month's total of 66 is higher than the previous month's total supply of available inventory of 61, an increase of 8%.

Median Sale Price
Last June, the median sale price for West Oak Lane and Cedarbrook Homes was $169,950. This June, the median sale price was $202,450, an increase of 19% or $32,500 compared to last year. The current median sold price is 7% 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
69
Current Contracts
50
Sold Vs. List Price
98.9%
Months of Supply
1.7
Up 6%
Vs. Year Ago
Down -17%
Vs. Year Ago
No Change
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In June, there was 1.7 months of supply available in West Oak Lane and Cedarbrook, compared to 3.4 in June 2020. That is a decrease of 51% 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 69 homes newly listed for sale in West Oak Lane and Cedarbrook compared to 65 in June 2020, an increase of 6%. There were 50 current contracts pending sale this June compared to 60 a year ago. The number of current contracts is 17% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in West Oak Lane and Cedarbrook was 98.9% 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 42, lower than the average last year, which was 68, a decrease of 38%.

The Long & Foster Market Minute West Oak Lane and Cedarbrook are defined as properties listed in zip code/s 19150 and 19138.
*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.