The Long & Foster Market Minute

Focus On: West Oak Lane Housing Market June 2021

Zip Code(s): 19138
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 9%
Vs. Year Ago
Down -36%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -25%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 25 sold this month in West Oak Lane Real Estate versus 24 last month, an increase of 4%. This month's total units sold was higher than at this time last year, an increase of 9% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 27 units or 36%. The total number of active inventory this June was 47 compared to 74 in June 2020. This month's total of 47 is higher than the previous month's total supply of available inventory of 46, an increase of 2%.

Median Sale Price
Last June, the median sale price for West Oak Lane Homes was $154,900. This June, the median sale price was $175,000, an increase of 13% or $20,100 compared to last year. The current median sold price is 3% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 8%
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -42%
Vs. Year Ago

Months of Supply
In June, there was 1.9 months of supply available in West Oak Lane, compared to 3.2 in June 2020. That is a decrease of 42% 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 39 homes newly listed for sale in West Oak Lane compared to 36 in June 2020, an increase of 8%. There were 30 current contracts pending sale this June compared to 37 a year ago. The number of current contracts is 19% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in West Oak Lane was 97.3% of the average list price, which is 2.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 43, lower than the average last year, which was 57, a decrease of 25%.

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