The Long & Foster Market Minute

Focus On: Ardmore, Wynnewood, and Narberth Housing Market March 2021

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
53
Active Inventory
67
Median Sale Price
$575,000
Days On Market
45
Down -2%
Vs. Year Ago
Down -45%
Vs. Year Ago
Up 28%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 53 sold this month in Ardmore, Wynnewood, and Narberth Real Estate versus 50 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 2% versus March 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 March was 67 compared to 122 in March 2020. This month's total of 67 is lower than the previous month's total supply of available inventory of 68, a decrease of 1%.

Median Sale Price
Last March, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $450,000. This March, the median sale price was $575,000, an increase of $125,000 compared to last year. The current median sold price is higher than in February.

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


New Listings
89
Current Contracts
77
Sold Vs. List Price
100.0%
Months of Supply
1.3
Up 22%
Vs. Year Ago
Up 28%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -44%
Vs. Year Ago

Months of Supply
In March, there was 1.3 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 2.3 in March 2020. That is a decrease of 44% 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 89 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 73 in March 2020, an increase of 22%. There were 77 current contracts pending sale this March compared to 60 a year ago. The number of current contracts is 28% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Ardmore, Wynnewood, and Narberth was 100.0% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 45, lower than the average last year, which was 56, a decrease of 20%.

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.