The Long & Foster Market Minute

Focus On: Mainline Housing Market March 2019

Zip Code(s): 19010, 19085, 19035 and 19041
Units Sold
34
Active Inventory
212
Median Sale Price
$566,500
Days On Market
104
Up
Vs. Year Ago
Down -16%
Vs. Year Ago
Down
Vs. Year Ago
Up 46%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 34 sold this month in Mainline Real Estate. This month's total units sold was higher than at this time last year, an increase from March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 41 units or 16%. The total number of active inventory this March was 212 compared to 253 in March 2018. This month's total of 212 is higher than the previous month's total supply of available inventory of 208, an increase of 2%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Mainline Homes was $680,000. This March, the median sale price was $566,500, a decrease of $113,500 compared to last year. The current median sold price is lower than in February.

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


New Listings
94
Current Contracts
71
Sold Vs. List Price
96.1%
Months of Supply
6.2
Up 9%
Vs. Year Ago
Up 92%
Vs. Year Ago
No Change
Vs. Year Ago
Down -38%
Vs. Year Ago

Months of Supply
In March, there was 6.2 months of supply available in Mainline, compared to 10.1 in March 2018. That is a decrease of 38% 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 94 homes newly listed for sale in Mainline compared to 86 in March 2018, an increase of 9%. There were 71 current contracts pending sale this March compared to 37 a year ago. The number of current contracts is 92% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Mainline was 96.1% 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 104, higher than the average last year, which was 71, an increase of 46%.

The Long & Foster Market Minute Mainline are defined as properties listed in zip code/s 19010, 19085, 19035 and 19041.
*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.