The Long & Foster Market Minute

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

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
39
Active Inventory
113
Median Sale Price
$400,000
Days On Market
63
Up
Vs. Year Ago
Down -24%
Vs. Year Ago
Up
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in February, with 39 sold this month in Ardmore, Wynnewood, and Narberth Real Estate. This month's total units sold was higher than at this time last year, an increase from February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 36 units or 24%. The total number of active inventory this February was 113 compared to 149 in February 2019. This month's supply remained stable as compared to last month.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $374,500. This February, the median sale price was $400,000, an increase of $25,500 compared to last year. The current median sold price is higher than in January.

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
71
Sold Vs. List Price
95.7%
Months of Supply
2.9
Up 19%
Vs. Year Ago
Up 48%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In February, there was 2.9 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 5.3 in February 2019. That is a decrease of 46% 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 75 in February 2019, an increase of 19%. There were 71 current contracts pending sale this February compared to 48 a year ago. The number of current contracts is 48% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Ardmore, Wynnewood, and Narberth was 95.7% of the average list price, which is 0.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 63, lower than the average last year, which was 76, a decrease of 17%.

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.