The Long & Foster Market Minute

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

Zip Code(s): 19803, 19807, 19732, 19710 and 19736
Units Sold
31
Active Inventory
131
Median Sale Price
$375,000
Days On Market
20
Down
Vs. Year Ago
Down -17%
Vs. Year Ago
Down -4%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in July, with 31 sold this month in Blue Ball, Talleyville, and West Farm Real Estate. This month's total units sold was lower than at this time last year, a decrease from July 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 26 units or 17%. The total number of active inventory this July was 131 compared to 157 in July 2017. This month's total of 131 is higher than the previous month's total supply of available inventory of 127, an increase of 3%.

Median Sale Price
Last July, the median sale price for Blue Ball, Talleyville, and West Farm Homes was $388,750. This July, the median sale price was $375,000, a decrease of 4% or $13,750 compared to last year. The current median sold price is 20% lower than in June.

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
28
Sold Vs. List Price
98.5%
Months of Supply
4.2
Up 9%
Vs. Year Ago
Down -45%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Up 51%
Vs. Year Ago

Months of Supply
In July, there was 4.2 months of supply available in Blue Ball, Talleyville, and West Farm, compared to 2.8 in July 2017. That is an increase of 51% 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 50 homes newly listed for sale in Blue Ball, Talleyville, and West Farm compared to 46 in July 2017, an increase of 9%. There were 28 current contracts pending sale this July compared to 51 a year ago. The number of current contracts remained stable as compared to last July.

Sale Price to List Price Ratio
In July, the average sale price in Blue Ball, Talleyville, and West Farm was 98.5% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 54. This decrease was impacted by the limited number of sales.

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.