The Long & Foster Market Minute

Focus On: Media Housing Market October 2022

Zip Code(s): 19063 and 19065
Units Sold
38
Active Inventory
40
Median Sale Price
$522,500
Days On Market
20
Down
Vs. Year Ago
Down -44%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in October, with 38 sold this month in Media 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 31 units or 44%. The total number of active inventory this October was 40 compared to 71 in October 2021. This month's total of 40 is lower than the previous month's total supply of available inventory of 50, a decrease of 20%.

Median Sale Price
Last October, the median sale price for Media Homes was $497,500. This October, the median sale price was $522,500, an increase of 5% or $25,000 compared to last year. The current median sold price is 9% lower 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
36
Current Contracts
37
Sold Vs. List Price
98.9%
Months of Supply
1.1
Down -18%
Vs. Year Ago
Down -26%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -11%
Vs. Year Ago

Months of Supply
In October, there was 1.1 months of supply available in Media, compared to 1.2 in October 2021. That is a decrease of 11% 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 36 homes newly listed for sale in Media compared to 44 in October 2021, a decrease of 18%. There were 37 current contracts pending sale this October compared to 50 a year ago. The number of current contracts is 26% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Media was 98.9% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 38, a decrease of 47%.

The Long & Foster Market Minute Media are defined as properties listed in zip code/s 19063 and 19065.
*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.