The Long & Foster Market Minute

Focus On: Mainline Housing Market April 2019

Zip Code(s): 19010, 19085, 19035 and 19041
Units Sold
47
Active Inventory
234
Median Sale Price
$665,000
Days On Market
111
Up 7%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 41%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 47 sold this month in Mainline Real Estate versus 36 last month, an increase of 31%. This month's total units sold was higher than at this time last year, an increase of 7% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 33 units or 12%. The total number of active inventory this April was 234 compared to 267 in April 2018. This month's total of 234 is higher than the previous month's total supply of available inventory of 224, an increase of 4%.

Median Sale Price
Last April, the median sale price for Mainline Homes was $690,000. This April, the median sale price was $665,000, a decrease of 4% or $25,000 compared to last year. The current median sold price is 17% higher than in March.

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


New Listings
112
Current Contracts
71
Sold Vs. List Price
92.7%
Months of Supply
5.0
Down -2%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In April, there was 5.0 months of supply available in Mainline, compared to 6.1 in April 2018. That is a decrease of 18% 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 112 homes newly listed for sale in Mainline compared to 114 in April 2018, a decrease of 2%. There were 71 current contracts pending sale this April compared to 70 a year ago. The number of current contracts is 1% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Mainline was 92.7% of the average list price, which is 1.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 111, higher than the average last year, which was 79, an increase of 41%.

The Long & Foster Market Minute 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.
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.