The Long & Foster Market Minute

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

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
74
Active Inventory
103
Median Sale Price
$567,450
Days On Market
36
Up
Vs. Year Ago
Down -45%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -23%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 74 sold this month in Ardmore, Wynnewood, and Narberth Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 85 units or 45%. The total number of active inventory this October was 103 compared to 188 in October 2019. This month's total of 103 is lower than the previous month's total supply of available inventory of 123, a decrease of 16%.

Median Sale Price
Last October, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $481,250. This October, the median sale price was $567,450, an increase of 18% or $86,200 compared to last year. The current median sold price is 13% higher 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.


New Listings
92
Current Contracts
93
Sold Vs. List Price
99.0%
Months of Supply
1.4
Up 24%
Vs. Year Ago
Up 41%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -67%
Vs. Year Ago

Months of Supply
In October, there was 1.4 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 4.3 in October 2019. That is a decrease of 67% 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 92 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 74 in October 2019, an increase of 24%. There were 93 current contracts pending sale this October compared to 66 a year ago. The number of current contracts is 41% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Ardmore, Wynnewood, and Narberth was 99.0% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 36, lower than the average last year, which was 47, a decrease of 23%.

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.