The Long & Foster Market Minute

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

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
44
Active Inventory
118
Median Sale Price
$568,000
Days On Market
29
Down
Vs. Year Ago
Down -42%
Vs. Year Ago
Up 27%
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 44 sold this month in Ardmore, Wynnewood, and Narberth Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 87 units or 42%. The total number of active inventory this May was 118 compared to 205 in May 2019. This month's total of 118 is lower than the previous month's total supply of available inventory of 121, a decrease of 2%.

Median Sale Price
Last May, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $447,450. This May, the median sale price was $568,000, an increase of $120,550 compared to last year. The current median sold price is higher than in April.

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
65
Sold Vs. List Price
98.7%
Months of Supply
2.7
Down -36%
Vs. Year Ago
Down -34%
Vs. Year Ago
No Change
Vs. Year Ago
Up 7%
Vs. Year Ago

Months of Supply
In May, there was 2.7 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 2.5 in May 2019. That is an increase of 7% 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 130 in May 2019, a decrease of 36%. There were 65 current contracts pending sale this May compared to 99 a year ago. The number of current contracts is 34% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Ardmore, Wynnewood, and Narberth was 98.7% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 37, a decrease of 22%.

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.