The Long & Foster Market Minute

Focus On: Blue Ball, Talleyville, and West Farm Housing Market May 2018

Zip Code(s): 19803, 19807, 19732, 19710 and 19736
Units Sold
41
Active Inventory
126
Median Sale Price
$415,000
Days On Market
53
Down -5%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -35%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 41 sold this month in Blue Ball, Talleyville, and West Farm Real Estate versus 32 last month, an increase of 28%. This month's total units sold was lower than at this time last year, a decrease of 5% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 45 units or 26%. The total number of active inventory this May was 126 compared to 171 in May 2017. This month's total of 126 is higher than the previous month's total supply of available inventory of 116, an increase of 9%.

Median Sale Price
Last May, the median sale price for Blue Ball, Talleyville, and West Farm Homes was $389,999. This May, the median sale price was $415,000, an increase of $25,001 compared to last year. The current median sold price is higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
69
Current Contracts
42
Sold Vs. List Price
97.6%
Months of Supply
3.1
Down -3%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 3.7%
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In May, there was 3.1 months of supply available in Blue Ball, Talleyville, and West Farm, compared to 4.0 in May 2017. That is a decrease of 23% 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 69 homes newly listed for sale in Blue Ball, Talleyville, and West Farm compared to 71 in May 2017, a decrease of 3%. There were 42 current contracts pending sale this May compared to 44 a year ago. The number of current contracts is 5% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Blue Ball, Talleyville, and West Farm was 97.6% 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 53, lower than the average last year, which was 81, a decrease of 35%.

The Long & Foster Market Minute Blue Ball, Talleyville, and West Farm are defined as properties listed in zip code/s 19803, 19807, 19732, 19710 and 19736.
*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 TReND 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 TReND or Long & Foster Real Estate, Inc.