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| Focus On: Ardmore, Wynnewood, and Narberth Housing Market | February 2023 | ||
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| Zip Code(s): 19003, 19096, 19072, 19004 and 19066 | |||
| Units Sold 22 |
Active Inventory 37 |
Median Sale Price $643,000 |
Days On Market 37 |
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| Down Vs. Year Ago |
Up 19% Vs. Year Ago |
Up Vs. Year Ago |
Up 16% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 22 sold this month in Ardmore, Wynnewood, and Narberth Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 6 units or 19%. The total number of active inventory this February was 37 compared to 31 in February 2022. This month's total of 37 is lower than the previous month's total supply of available inventory of 46, a decrease of 20%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $500,000. This February, the median sale price was $643,000, an increase of $143,000 compared to last year. The current median sold price is higher 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. |
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| New Listings 29 |
Current Contracts 32 |
Sold Vs. List Price 99.3% |
Months of Supply 1.7 |
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| Down -41% Vs. Year Ago |
Down -27% Vs. Year Ago |
No Change Vs. Year Ago |
Up 89% Vs. Year Ago |
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Months of Supply
In February, there was 1.7 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 0.9 in February 2022. That is an increase of 90% 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. |
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New Listings & Current Contracts
This month there were 29 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 49 in February 2022, a decrease of 41%. There were 32 current contracts pending sale this February compared to 44 a year ago. The number of current contracts is 27% lower than last February. |
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Sale Price to List Price Ratio
In February, the average sale price in Ardmore, Wynnewood, and Narberth was 99.3% 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 37, higher than the average last year, which was 32, an increase of 16%. | |||
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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. | |||
 Information 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. |
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