The Long & Foster Market Minute

Focus On: Drexel Hill Housing Market January 2024

Zip Code(s): 19026
Units Sold
12
Active Inventory
21
Median Sale Price
$278,500
Days On Market
18
Down
Vs. Year Ago
Down -36%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in January, with 12 sold this month in Drexel Hill Real Estate. This month's total units sold was lower than at this time last year, a decrease from January 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 12 units or 36%. The total number of active inventory this January was 21 compared to 33 in January 2023. This month's total of 21 is lower than the previous month's total supply of available inventory of 25, a decrease of 16%.

Median Sale Price
Last January, the median sale price for Drexel Hill Homes was $265,000. This January, the median sale price was $278,500, an increase of 5% or $13,500 compared to last year. The current median sold price is 23% lower than in December.

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


New Listings
28
Current Contracts
25
Sold Vs. List Price
100.6%
Months of Supply
1.8
Down -15%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In January, there was 1.8 months of supply available in Drexel Hill. The amount of supply is similar compared to 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 28 homes newly listed for sale in Drexel Hill compared to 33 in January 2023, a decrease of 15%. There were 25 current contracts pending sale this January compared to 27 a year ago. The number of current contracts is 7% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Drexel Hill was 100.6% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 38. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Drexel Hill are defined as properties listed in zip code/s 19026.
*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.