The Long & Foster Market Minute

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

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
47
Active Inventory
137
Median Sale Price
$465,000
Days On Market
54
Down -4%
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 47 sold this month in Ardmore, Wynnewood, and Narberth Real Estate versus 54 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 4% versus December 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 71 units or 34%. The total number of active inventory this December was 137 compared to 208 in December 2017. This month's total of 137 is lower than the previous month's total supply of available inventory of 174, a decrease of 21%.

Median Sale Price
Last December, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $437,500. This December, the median sale price was $465,000, an increase of 6% or $27,500 compared to last year. The current median sold price is 13% higher than in November.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
35
Current Contracts
33
Sold Vs. List Price
97.5%
Months of Supply
2.9
Up 17%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Down -31%
Vs. Year Ago

Months of Supply
In December, there was 2.9 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 4.2 in December 2017. That is a decrease of 31% 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 35 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 30 in December 2017, an increase of 17%. There were 33 current contracts pending sale this December compared to 38 a year ago. The number of current contracts is 13% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Ardmore, Wynnewood, and Narberth was 97.5% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 54, lower than the average last year, which was 79, a decrease of 32%.

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.