MAINLINE HOUSING MARKET DATA

There was a decrease in total units sold in August, with 48 sold this month in Mainline Real Estate. This month's total units sold was higher than at this time last year.

Versus last year, the total number of homes available this month is higher by 10 units or 17%. The total number of active inventory this August was 70 compared to 60 in August 2023. This month's total of 70 is lower than the previous month's total supply of available inventory of 78, a decrease of 10%.

Last August, the median sale price for Mainline Homes was $1,000,000. This August, the median sale price was $1,150,000, an increase of 15% or $150,000 compared to last year. The current median sold price is 12% 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 1.5 months of supply available in Mainline, compared to 1.9 in August 2023. That is a decrease of 25% 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 31 homes newly listed for sale in Mainline compared to 24 in August 2023, an increase of 29%. There were 26 current contracts pending sale this August compared to 22 a year ago. The number of current contracts is 18% higher than last August.

In August, the average sale price in Mainline was 100.5% of the average list price, which is 3.2% lower than at this time last year.

This month, the average number of days on market was 36, lower than the average last year, which was 48, a decrease of 25%.





FOCUS ON: MAINLINE HOUSING MARKET			AUGUST 2024

Zip Code(s): 19010, 19085, 19035 and 19041
Units Sold 48	Active Inventory 70	Median Sale Price $1,150,000	Days On Market 36

Up Vs. Year Ago	Up 17% Vs. Year Ago	Up 15% Vs. Year Ago	Down -25% Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 48 sold this month in Mainline 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 higher by 10 units or 17%. The total number of active inventory this August was 70 compared to 60 in August 2023. This month's total of 70 is lower than the previous month's total supply of available inventory of 78, a decrease of 10%.
		Median Sale Price Last August, the median sale price for Mainline Homes was $1,000,000. This August, the median sale price was $1,150,000, an increase of 15% or $150,000 compared to last year. The current median sold price is 12% 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 31	Current Contracts 26	Sold Vs. List Price 100.5%	Months of Supply 1.5

Up 29% Vs. Year Ago	Up 18% Vs. Year Ago	Down -3% Vs. Year Ago	Down -25% Vs. Year Ago


		Months of Supply In August, there was 1.5 months of supply available in Mainline, compared to 1.9 in August 2023. That is a decrease of 25% 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 31 homes newly listed for sale in Mainline compared to 24 in August 2023, an increase of 29%. There were 26 current contracts pending sale this August compared to 22 a year ago. The number of current contracts is 18% higher than last August.
		Sale Price to List Price Ratio In August, the average sale price in Mainline was 100.5% of the average list price, which is 3.2% lower than at this time last year. Days on Market This month, the average number of days on market was 36, lower than the average last year, which was 48, a decrease of 25%.


	Mainline are defined as properties listed in zip code/s 19010, 19085, 19035 and 19041.
	*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.