The Long & Foster Market Minute
Focus On: Ardmore, Wynnewood, and Narberth Housing Market July 2017
Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
100
Active Inventory
263
Median Sale Price
$440,750
Days On Market
45
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -4%
Vs. Year Ago
Down -22%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 2%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in July, with 100 sold this month in Ardmore, Wynnewood, and Narberth Real Estate versus 113 last month, a decrease of 12%. This month's total units sold was lower than at this time last year, a decrease of 4% versus July 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 74 units or 22%. The total number of active inventory this July was 263 compared to 337 in July 2016. This month's total of 263 is lower than the previous month's total supply of available inventory of 265, a decrease of 1%.

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Median Sale Price
Last July, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $438,000. This July, the median sale price was $440,750, an increase of 1% or $2,750 compared to last year. The current median sold price is 13% lower than in June.

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

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New Listings
94
Current Contracts
51
Sold Vs. List Price
98.1%
Months of Supply
2.6
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 22%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -19%
Vs. Year Ago
Months of Supply
In July, there was 2.6 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 3.2 in July 2016. That is a decrease of 19% 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.

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New Listings & Current Contracts
This month there were 94 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 77 in July 2016, an increase of 22%. There were 51 current contracts pending sale this July compared to 61 a year ago. The number of current contracts is 16% lower than last July.

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Sale Price to List Price Ratio
In July, the average sale price in Ardmore, Wynnewood, and Narberth was 98.1% of the average list price, which is 1.0% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 45, higher than the average last year, which was 44, an increase of 2%.

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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 TREND 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 TREND or Long & Foster Real Estate, Inc.