The Long & Foster Market Minute

Focus On: Mainline Housing Market December 2018

Zip Code(s): 19010, 19085, 19035 and 19041
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 14%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in December, with 33 sold this month in Mainline Real Estate. This month's total units sold was lower than at this time last year, a decrease from December 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 34 units or 15%. The total number of active inventory this December was 186 compared to 220 in December 2017. This month's total of 186 is lower than the previous month's total supply of available inventory of 243, a decrease of 23%.

Median Sale Price
Last December, the median sale price for Mainline Homes was $727,500. This December, the median sale price was $755,050, an increase of 4% or $27,550 compared to last year. The current median sold price is 17% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -33%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Up 33%
Vs. Year Ago

Months of Supply
In December, there was 5.6 months of supply available in Mainline, compared to 4.2 in December 2017. That is an increase of 33% 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 18 homes newly listed for sale in Mainline compared to 27 in December 2017, a decrease of 33%. There were 17 current contracts pending sale this December compared to 21 a year ago. The number of current contracts is 19% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Mainline was 95.6% 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 104, higher than the average last year, which was 91, an increase of 14%.

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.