The Long & Foster Market Minute

Focus On: Drexel Hill Housing Market October 2022

Zip Code(s): 19026
Units Sold
37
Active Inventory
34
Median Sale Price
$290,000
Days On Market
19
Down
Vs. Year Ago
Down -39%
Vs. Year Ago
Up
Vs. Year Ago
Up 36%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in October, with 37 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 October 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 22 units or 39%. The total number of active inventory this October was 34 compared to 56 in October 2021. This month's total of 34 is lower than the previous month's total supply of available inventory of 35, a decrease of 3%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last October, the median sale price for Drexel Hill Homes was $220,000. This October, the median sale price was $290,000, an increase of $70,000 compared to last year. The current median sold price is higher 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
40
Current Contracts
35
Sold Vs. List Price
101.6%
Months of Supply
0.9
Down -38%
Vs. Year Ago
Down -43%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In October, there was 0.9 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 40 homes newly listed for sale in Drexel Hill compared to 64 in October 2021, a decrease of 38%. There were 35 current contracts pending sale this October compared to 61 a year ago. The number of current contracts is 43% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Drexel Hill was 101.6% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 19, higher than the average last year, which was 14, an increase of 36%.

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.