The Long & Foster Market Minute

Focus On: Ardmore, Wynnewood, and Narberth Housing Market August 2020

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
83
Active Inventory
125
Median Sale Price
$540,000
Days On Market
46
Up 20%
Vs. Year Ago
Down -32%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -10%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 83 sold this month in Ardmore, Wynnewood, and Narberth Real Estate versus 78 last month, an increase of 6%. This month's total units sold was higher than at this time last year, an increase of 20% versus August 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 58 units or 32%. The total number of active inventory this August was 125 compared to 183 in August 2019. This month's total of 125 is lower than the previous month's total supply of available inventory of 131, a decrease of 5%.

Median Sale Price
Last August, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $496,000. This August, the median sale price was $540,000, an increase of 9% or $44,000 compared to last year. The current median sold price is 2% lower than in July.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
83
Current Contracts
77
Sold Vs. List Price
98.6%
Months of Supply
1.5
Up 34%
Vs. Year Ago
Up 71%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -43%
Vs. Year Ago

Months of Supply
In August, there was 1.5 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 2.7 in August 2019. That is a decrease of 43% 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 83 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 62 in August 2019, an increase of 34%. There were 77 current contracts pending sale this August compared to 45 a year ago. The number of current contracts is 71% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Ardmore, Wynnewood, and Narberth was 98.6% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 46, lower than the average last year, which was 51, a decrease of 10%.

The Long & Foster Market Minute Ardmore, Wynnewood, and Narberth are defined as properties listed in zip code/s 19003, 19096, 19072, 19004 and 19066, and includes but is not limited to Ardmore, Wynnewood, Narberth, Merion, and Bala Cynwyd.
*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.