The Long & Foster Market Minute

Focus On: West Philadelphia and University City Housing Market June 2021

Zip Code(s): 19104 and 19139
Units Sold
47
Active Inventory
117
Median Sale Price
$174,900
Days On Market
27
Up
Vs. Year Ago
Down -12%
Vs. Year Ago
Up
Vs. Year Ago
Down -18%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 47 sold this month in West Philadelphia and University City 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 16 units or 12%. The total number of active inventory this June was 117 compared to 133 in June 2020. This month's total of 117 is higher than the previous month's total supply of available inventory of 107, an increase of 9%.

Median Sale Price
Last June, the median sale price for West Philadelphia and University City Homes was $96,250. This June, the median sale price was $174,900, an increase of $78,650 compared to last year. The current median sold price is 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
80
Current Contracts
42
Sold Vs. List Price
98.6%
Months of Supply
2.5
Up 29%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 4.7%
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In June, there was 2.5 months of supply available in West Philadelphia and University City, compared to 5.1 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 80 homes newly listed for sale in West Philadelphia and University City compared to 62 in June 2020, an increase of 29%. There were 42 current contracts pending sale this June compared to 48 a year ago. The number of current contracts is 13% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in West Philadelphia and University City was 98.6% of the average list price, which is 4.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 33, a decrease of 18%.

The Long & Foster Market Minute West Philadelphia and University City are defined as properties listed in zip code/s 19104 and 19139.
*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.