The Long & Foster Market Minute

Focus On: Mainline Housing Market February 2020

Zip Code(s): 19010, 19085, 19035 and 19041
Units Sold
21
Active Inventory
157
Median Sale Price
$765,000
Days On Market
91
Down
Vs. Year Ago
Down -23%
Vs. Year Ago
Down -4%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 21 sold this month in Mainline Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 48 units or 23%. The total number of active inventory this February was 157 compared to 205 in February 2019. This month's total of 157 is higher than the previous month's total supply of available inventory of 133, an increase of 18%.

Median Sale Price
Last February, the median sale price for Mainline Homes was $800,000. This February, the median sale price was $765,000, a decrease of 4% or $35,000 compared to last year. The current median sold price is 9% lower than in January.

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


New Listings
77
Current Contracts
36
Sold Vs. List Price
93.2%
Months of Supply
7.5
Down -6%
Vs. Year Ago
Down -23%
Vs. Year Ago
No Change
Vs. Year Ago
Down -9%
Vs. Year Ago

Months of Supply
In February, there was 7.5 months of supply available in Mainline, compared to 8.2 in February 2019. That is a decrease of 9% 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 77 homes newly listed for sale in Mainline compared to 82 in February 2019, a decrease of 6%. There were 36 current contracts pending sale this February compared to 47 a year ago. The number of current contracts is 23% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Mainline was 93.2% 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 91, which is similar compared to a year ago.

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.