Media Housing Market Data

There was an increase in total units sold in August, with 40 sold this month in Media Real Estate versus 30 last month, an increase of 33%. This month's total units sold was lower than at this time last year, a decrease of 29% versus August 2022.

Versus last year, the total number of homes available this month is higher by 6 units or 14%. The total number of active inventory this August was 50 compared to 44 in August 2022. This month's total of 50 is higher than the previous month's total supply of available inventory of 49, an increase of 2%.

Last August, the median sale price for Media Homes was $616,762. This August, the median sale price was $613,750, which is similar compared to a year ago. The current median sold price is 7% 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 Media, compared to 0.8 in August 2022. That is an increase of 59% 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 41 homes newly listed for sale in Media compared to 24 in August 2022, an increase of 71%. There were 37 current contracts pending sale this August compared to 35 a year ago. The number of current contracts is 6% higher than last August.

In August, the average sale price in Media was 101.4% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 38, higher than the average last year, which was 30, an increase of 27%.





Focus On: Media Housing Market			August 2023

Zip Code(s): 19063 and 19065
Units Sold 40	Active Inventory 50	Median Sale Price $613,750	Days On Market 38

Down -29% Vs. Year Ago	Up 14% Vs. Year Ago	No Change Vs. Year Ago	Up 27% Vs. Year Ago


		Units Sold There was an increase in total units sold in August, with 40 sold this month in Media Real Estate versus 30 last month, an increase of 33%. This month's total units sold was lower than at this time last year, a decrease of 29% versus August 2022.
Active Inventory Versus last year, the total number of homes available this month is higher by 6 units or 14%. The total number of active inventory this August was 50 compared to 44 in August 2022. This month's total of 50 is higher than the previous month's total supply of available inventory of 49, an increase of 2%.
		Median Sale Price Last August, the median sale price for Media Homes was $616,762. This August, the median sale price was $613,750, which is similar compared to a year ago. The current median sold price is 7% 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 41	Current Contracts 37	Sold Vs. List Price 101.4%	Months of Supply 1.3

Up 71% Vs. Year Ago	Up 6% Vs. Year Ago	No Change Vs. Year Ago	Up 58% Vs. Year Ago


		Months of Supply In August, there was 1.3 months of supply available in Media, compared to 0.8 in August 2022. That is an increase of 59% 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 41 homes newly listed for sale in Media compared to 24 in August 2022, an increase of 71%. There were 37 current contracts pending sale this August compared to 35 a year ago. The number of current contracts is 6% higher than last August.
		Sale Price to List Price Ratio In August, the average sale price in Media was 101.4% 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 38, higher than the average last year, which was 30, an increase of 27%.


	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.
	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.