The Long & Foster Market Minute

Focus On: Merchantville and Pennsauken Housing Market September 2021

Zip Code(s): 08110 and 08109
Units Sold
42
Active Inventory
53
Median Sale Price
$250,000
Days On Market
19
Up 24%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 42 sold this month in Merchantville and Pennsauken Real Estate versus 61 last month, a decrease of 31%. This month's total units sold was higher than at this time last year, an increase of 24% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 26%. The total number of active inventory this September was 53 compared to 72 in September 2020. This month's total of 53 is lower than the previous month's total supply of available inventory of 67, a decrease of 21%.

Median Sale Price
Last September, the median sale price for Merchantville and Pennsauken Homes was $173,500. This September, the median sale price was $250,000, an increase of $76,500 compared to last year. The current median sold price is higher than in August.

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


New Listings
49
Current Contracts
49
Sold Vs. List Price
102.9%
Months of Supply
1.3
Down -18%
Vs. Year Ago
Down -22%
Vs. Year Ago
No Change
Vs. Year Ago
Down -41%
Vs. Year Ago

Months of Supply
In September, there was 1.3 months of supply available in Merchantville and Pennsauken, compared to 2.1 in September 2020. That is a decrease of 40% 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 49 homes newly listed for sale in Merchantville and Pennsauken compared to 60 in September 2020, a decrease of 18%. There were 49 current contracts pending sale this September compared to 63 a year ago. The number of current contracts is 22% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Merchantville and Pennsauken was 102.9% 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 19, lower than the average last year, which was 22, a decrease of 14%.

The Long & Foster Market Minute Merchantville and Pennsauken are defined as properties listed in zip code/s 08110 and 08109.
*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.