The Long & Foster Market Minute

Focus On: Ardmore, Wynnewood, and Narberth Housing Market October 2021

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
67
Active Inventory
73
Median Sale Price
$490,000
Days On Market
26
Down -12%
Vs. Year Ago
Down -35%
Vs. Year Ago
Down -14%
Vs. Year Ago
Down -26%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 67 sold this month in Ardmore, Wynnewood, and Narberth Real Estate versus 71 last month, a decrease of 6%. This month's total units sold was lower than at this time last year, a decrease of 12% versus October 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 40 units or 35%. The total number of active inventory this October was 73 compared to 113 in October 2020. This month's total of 73 is lower than the previous month's total supply of available inventory of 84, a decrease of 13%.

Median Sale Price
Last October, the median sale price for Ardmore, Wynnewood, and Narberth Homes was $567,500. This October, the median sale price was $490,000, a decrease of 14% or $77,500 compared to last year. The current median sold price is 2% 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
79
Current Contracts
75
Sold Vs. List Price
100.7%
Months of Supply
1.1
Down -15%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In October, there was 1.1 months of supply available in Ardmore, Wynnewood, and Narberth, compared to 1.5 in October 2020. That is a decrease of 27% 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 79 homes newly listed for sale in Ardmore, Wynnewood, and Narberth compared to 93 in October 2020, a decrease of 15%. There were 75 current contracts pending sale this October compared to 89 a year ago. The number of current contracts is 16% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Ardmore, Wynnewood, and Narberth was 100.7% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 35, a decrease of 26%.

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.