The Long & Foster Market Minute

Focus On: Ardmore, Wynnewood, and Narberth Housing Market October 2017

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
56
Active Inventory
253
Median Sale Price
$390,000
Days On Market
43
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 10%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -44%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 56 sold this month in Ardmore, Wynnewood, and Narberth Real Estate versus 63 last month, a decrease of 11%. This month's total units sold was higher than at this time last year, an increase of 10% versus October 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 44 units or 15%. The total number of active inventory this October was 253 compared to 297 in October 2016. This month's supply remained stable as compared to last month.

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Median Sale Price
Last October, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $370,500. This October, the median sale price was $390,000, an increase of 5% or $19,500 compared to last year. The current median sold price is 8% lower than in September.

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
81
Current Contracts
53
Sold Vs. List Price
96.9%
Months of Supply
4.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 31%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In October, there was 4.5 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 5.8 in October 2016. That is a decrease of 22% 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 81 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 62 in October 2016, an increase of 31%. There were 53 current contracts pending sale this October compared to 51 a year ago. The number of current contracts is 4% higher than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Ardmore, Wynnewood, and Narberth was 96.9% of the average list price, which is 0.7% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 43, lower than the average last year, which was 77, a decrease of 44%.

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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 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.