The Long & Foster Market Minute

Focus On: Ardmore, Wynnewood, and Narberth Housing Market May 2018

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
87
Active Inventory
229
Median Sale Price
$420,000
Days On Market
48
Down -3%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 87 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 37 units or 14%. The total number of active inventory this May was 229 compared to 266 in May 2017. This month's total of 229 is higher than the previous month's total supply of available inventory of 215, an increase of 7%.

Median Sale Price
Last May, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $400,000. This May, the median sale price was $420,000, an increase of 5% or $20,000 compared to last year. The current median sold price is 8% lower 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
129
Current Contracts
85
Sold Vs. List Price
97.4%
Months of Supply
2.6
Down -8%
Vs. Year Ago
Down -11%
Vs. Year Ago
No Change
Vs. Year Ago
Down -11%
Vs. Year Ago

Months of Supply
In May, there was 2.6 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 3.0 in May 2017. That is a decrease of 11% 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 129 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 140 in May 2017, a decrease of 8%. There were 85 current contracts pending sale this May compared to 96 a year ago. The number of current contracts is 11% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Ardmore, Wynnewood, and Narberth was 97.4% 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 48, lower than the average last year, which was 58, 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 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.