The Long & Foster Market Minute

Focus On: Ardmore, Wynnewood, and Narberth Housing Market October 2023

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -20%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 40 sold this month in Ardmore, Wynnewood, and Narberth Real Estate versus 50 last month, a decrease of 20%. This month's total units sold was lower than at this time last year, a decrease of 20% versus October 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 18%. The total number of active inventory this October was 67 compared to 82 in October 2022. This month's supply remained stable as compared to last month.

Median Sale Price
Last October, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $561,000. This October, the median sale price was $612,000, an increase of 9% or $51,000 compared to last year. The current median sold price is 5% lower than in September.

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 -12%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 3.5%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In October, there was 1.7 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 51 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 58 in October 2022, a decrease of 12%. There were 41 current contracts pending sale this October compared to 44 a year ago. The number of current contracts is 7% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Ardmore, Wynnewood, and Narberth was 102.9% of the average list price, which is 3.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 17, lower than the average last year, which was 19, a decrease of 11%.

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.