The Long & Foster Market Minute

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

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
92
Active Inventory
188
Median Sale Price
$465,000
Days On Market
42
Down -3%
Vs. Year Ago
Down -25%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 2%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 92 sold this month in Ardmore, Wynnewood, and Narberth Real Estate versus 97 last month, a decrease of 5%. This month's total units sold was lower than at this time last year, a decrease of 3% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 63 units or 25%. The total number of active inventory this August was 188 compared to 251 in August 2017. This month's total of 188 is lower than the previous month's total supply of available inventory of 214, a decrease of 12%.

Median Sale Price
Last August, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $539,000. This August, the median sale price was $465,000, a decrease of 14% or $74,000 compared to last year. The current median sold price is 1% higher than in July.

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


New Listings
57
Current Contracts
53
Sold Vs. List Price
95.9%
Months of Supply
2.0
Down -28%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -2.6%
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In August, there was 2.0 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 2.6 in August 2017. That is a decrease of 23% 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 57 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 79 in August 2017, a decrease of 28%. There were 53 current contracts pending sale this August compared to 60 a year ago. The number of current contracts is 12% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Ardmore, Wynnewood, and Narberth was 95.9% of the average list price, which is 2.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 42, higher than the average last year, which was 41, an increase of 2%.

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.