The Long & Foster Market Minute

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

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
45
Active Inventory
196
Median Sale Price
$400,000
Days On Market
40
Down -24%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 45 sold this month in Ardmore, Wynnewood, and Narberth Real Estate versus 46 last month, a decrease of 2%. This month's total units sold was lower than at this time last year, a decrease of 24% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 69 units or 26%. The total number of active inventory this October was 196 compared to 265 in October 2017. This month's total of 196 is lower than the previous month's total supply of available inventory of 203, a decrease of 3%.

Median Sale Price
Last October, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $390,000. This October, the median sale price was $400,000, an increase of 3% or $10,000 compared to last year. The current median sold price is 15% 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.


New Listings
103
Current Contracts
71
Sold Vs. List Price
96.1%
Months of Supply
4.4
Up 30%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Down -3%
Vs. Year Ago

Months of Supply
In October, there was 4.4 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 4.5 in October 2017. That is a decrease of 3% 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 103 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 79 in October 2017, an increase of 30%. There were 71 current contracts pending sale this October compared to 61 a year ago. The number of current contracts is 16% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Ardmore, Wynnewood, and Narberth was 96.1% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 40, lower than the average last year, which was 46, a decrease of 13%.

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.