The Long & Foster Market Minute

Focus On: Ardmore, Wynnewood, and Narberth Housing Market August 2022

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
71
Active Inventory
55
Median Sale Price
$530,000
Days On Market
13
Down -24%
Vs. Year Ago
Down -33%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -41%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 71 sold this month in Ardmore, Wynnewood, and Narberth Real Estate versus 70 last month, an increase of 1%. This month's total units sold was lower than at this time last year, a decrease of 24% versus August 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 27 units or 33%. The total number of active inventory this August was 55 compared to 82 in August 2021. This month's total of 55 is lower than the previous month's total supply of available inventory of 65, a decrease of 15%.

Median Sale Price
Last August, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $561,000. This August, the median sale price was $530,000, a decrease of 6% or $31,000 compared to last year. The current median sold price is 8% 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
50
Current Contracts
48
Sold Vs. List Price
100.6%
Months of Supply
0.8
Down -31%
Vs. Year Ago
Down -27%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In August, there was 0.8 months of supply available in Ardmore, Wynnewood, and Narberth. The amount of supply is similar compared to 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 50 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 72 in August 2021, a decrease of 31%. There were 48 current contracts pending sale this August compared to 66 a year ago. The number of current contracts is 27% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Ardmore, Wynnewood, and Narberth was 100.6% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 13, lower than the average last year, which was 22, a decrease of 41%.

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 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.