The Long & Foster Market Minute

Focus On: Chester, Ridley Park, Woodlyn Housing Market October 2022

Zip Code(s): 19013, 19078, 19094, 19022, 19029 and 19076
Units Sold
46
Active Inventory
75
Median Sale Price
$171,000
Days On Market
17
Down -26%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -35%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 46 sold this month in Chester, Ridley Park, Woodlyn Real Estate versus 63 last month, a decrease of 27%. This month's total units sold was lower than at this time last year, a decrease of 26% versus October 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 8 units or 10%. The total number of active inventory this October was 75 compared to 83 in October 2021. This month's total of 75 is lower than the previous month's total supply of available inventory of 77, a decrease of 3%.

Median Sale Price
Last October, the median sale price for Chester, Ridley Park, Woodlyn Homes was $175,000. This October, the median sale price was $171,000, a decrease of 2% or $4,000 compared to last year. The current median sold price is 18% 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
60
Current Contracts
48
Sold Vs. List Price
98.3%
Months of Supply
1.6
No Change
Vs. Year Ago
No Change
Vs. Year Ago
Down -1.6%
Vs. Year Ago
Up 22%
Vs. Year Ago

Months of Supply
In October, there was 1.6 months of supply available in Chester, Ridley Park, Woodlyn, compared to 1.3 in October 2021. That is an increase of 22% 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 60 homes newly listed for sale in Chester, Ridley Park, Woodlyn, which is similar to the amount in October 2021. There were 48 current contracts pending sale this October, consistent with the volume a year ago. The number of current contracts is 2% lower than last month.

Sale Price to List Price Ratio
In October, the average sale price in Chester, Ridley Park, Woodlyn was 98.3% of the average list price, which is 1.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 17, lower than the average last year, which was 26, a decrease of 35%.

The Long & Foster Market Minute Chester, Ridley Park, Woodlyn are defined as properties listed in zip code/s 19013, 19078, 19094, 19022, 19029 and 19076.
*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.