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| AUGUST 2024 | |||
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| Units Sold 1,183 |
Active Inventory 4,278 |
Median Sale Price $275,500 |
Days On Market 43 |
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| Down -4% Vs. Year Ago |
Down -9% Vs. Year Ago |
Up 6% Vs. Year Ago |
Down -4% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in August, with 1,183 sold this month in Philadelphia County Real Estate versus 1,295 last month, a decrease of 9%. This month's total units sold was lower than at this time last year, a decrease of 4% versus August 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 421 units or 9%. The total number of active inventory this August was 4,278 compared to 4,699 in August 2023. This month's total of 4,278 is lower than the previous month's total supply of available inventory of 4,459, a decrease of 4%. |
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Median Sale Price
Last August, the median sale price for Philadelphia County Homes was $260,000. This August, the median sale price was approximately the same at $275,500. The current median sold price is 6% higher than in August 2023. 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 1,735 |
Current Contracts 1,232 |
Sold Vs. List Price 98.2% |
Months of Supply 3.6 |
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| Down -9% Vs. Year Ago |
Up 7% Vs. Year Ago |
No Change Vs. Year Ago |
Down -5% Vs. Year Ago |
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Months of Supply
In August, there was 3.6 months of supply available in Philadelphia County, compared to 3.8 in August 2023. That is a decrease of 5% 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 1,735 homes newly listed for sale in Philadelphia County compared to 1,899 in August 2023, a decrease of 9%. There were 1,232 current contracts pending sale this August compared to 1,149 a year ago. The number of current contracts is 7% higher than last August. |
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Sale Price to List Price Ratio
In August, the average sale price in Philadelphia County was 98.2% 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 43, lower than the average last year, which was 45, a decrease of 4%. | |||
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| *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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