Lower Mainline Housing Market Data

There was a decrease in total units sold in August, with 50 sold this month in Lower Mainline Real Estate versus 54 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 31% versus August 2022.

The total number of homes available this month is 63 units, which is similar compared to a year ago. This month's total of 63 is higher than the previous month's total supply of available inventory of 52, an increase of 21%.

Last August, the median sale price for Lower Mainline Homes was $527,500. This August, the median sale price was $618,641, an increase of 17% or $91,141 compared to last year. The current median sold price is 8% lower than in July.

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

In August, there was 1.3 months of supply available in Lower Mainline, compared to 0.9 in August 2022. That is an increase of 44% 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.

This month there were 58 homes newly listed for sale in Lower Mainline compared to 51 in August 2022, an increase of 14%. There were 42 current contracts pending sale this August compared to 47 a year ago. The number of current contracts is 11% lower than last August.

In August, the average sale price in Lower Mainline was 102.5% of the average list price, which is 1.9% higher than at this time last year.

This month, the average number of days on market was 16, higher than the average last year, which was 14, an increase of 14%.





Focus On: Lower Mainline Housing Market			August 2023

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold 50	Active Inventory 63	Median Sale Price $618,641	Days On Market 16

Down -31% Vs. Year Ago	No Change Vs. Year Ago	Up 17% Vs. Year Ago	Up 14% Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 50 sold this month in Lower Mainline Real Estate versus 54 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 31% versus August 2022.
Active Inventory The total number of homes available this month is 63 units, which is similar compared to a year ago. This month's total of 63 is higher than the previous month's total supply of available inventory of 52, an increase of 21%.
		Median Sale Price Last August, the median sale price for Lower Mainline Homes was $527,500. This August, the median sale price was $618,641, an increase of 17% or $91,141 compared to last year. The current median sold price is 8% lower than in July. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 58	Current Contracts 42	Sold Vs. List Price 102.5%	Months of Supply 1.3

Up 14% Vs. Year Ago	Down -11% Vs. Year Ago	Up 1.9% Vs. Year Ago	Up 43% Vs. Year Ago


		Months of Supply In August, there was 1.3 months of supply available in Lower Mainline, compared to 0.9 in August 2022. That is an increase of 44% 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 58 homes newly listed for sale in Lower Mainline compared to 51 in August 2022, an increase of 14%. There were 42 current contracts pending sale this August compared to 47 a year ago. The number of current contracts is 11% lower than last August.
		Sale Price to List Price Ratio In August, the average sale price in Lower Mainline was 102.5% of the average list price, which is 1.9% higher than at this time last year. Days on Market This month, the average number of days on market was 16, higher than the average last year, which was 14, an increase of 14%.


	Lower Mainline are defined as properties listed in zip code/s 19003, 19096, 19072, 19004 and 19066.
	*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.
	Information 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.