The Long & Foster Market Minute

Focus On: Chester, Ridley Park, Woodlyn Housing Market October 2023

Zip Code(s): 19013, 19078, 19094, 19022, 19029 and 19076
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 4%
Vs. Year Ago
Down -48%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 56%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 53 sold this month in Chester, Ridley Park, Woodlyn Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 44 units or 48%. The total number of active inventory this October was 47 compared to 91 in October 2022. This month's total of 47 is lower than the previous month's total supply of available inventory of 75, a decrease of 37%.

Median Sale Price
Last October, the median sale price for Chester, Ridley Park, Woodlyn Homes was $160,000. This October, the median sale price was $155,000, a decrease of $5,000 compared to last year. The current median sold price is 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -27%
Vs. Year Ago
Up 34%
Vs. Year Ago
No Change
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In October, there was 0.9 months of supply available in Chester, Ridley Park, Woodlyn, compared to 1.8 in October 2022. That is a decrease of 50% 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 46 homes newly listed for sale in Chester, Ridley Park, Woodlyn compared to 63 in October 2022, a decrease of 27%. There were 59 current contracts pending sale this October compared to 44 a year ago. The number of current contracts is 34% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Chester, Ridley Park, Woodlyn was 97.8% 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 25, higher than the average last year, which was 16, an increase of 56%.

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.