The Long & Foster Market Minute

Focus On: Lower Mainline Housing Market December 2021

Zip Code(s): 19003, 19096, 19072, 19004 and 19066
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -11%
Vs. Year Ago
Down -70%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -39%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 56 sold this month in Lower Mainline Real Estate versus 72 last month, a decrease of 22%. This month's total units sold was lower than at this time last year, a decrease of 11% versus December 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 65 units or 70%. The total number of active inventory this December was 28 compared to 93 in December 2020. This month's total of 28 is lower than the previous month's total supply of available inventory of 68, a decrease of 59%.

Median Sale Price
Last December, the median sale price for Lower Mainline Homes was $460,000. This December, the median sale price was $404,500, a decrease of 12% or $55,500 compared to last year. The current median sold price is 21% lower than in November.

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 -65%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -66%
Vs. Year Ago

Months of Supply
In December, there was 0.5 months of supply available in Lower Mainline, compared to 1.5 in December 2020. That is a decrease of 66% 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 17 homes newly listed for sale in Lower Mainline compared to 49 in December 2020, a decrease of 65%. There were 47 current contracts pending sale this December compared to 44 a year ago. The number of current contracts remained stable as compared to last December.

Sale Price to List Price Ratio
In December, the average sale price in Lower Mainline was 99.3% 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, lower than the average last year, which was 41, a decrease of 39%.

The Long & Foster Market Minute 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.
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.