The Long & Foster Market Minute

Focus On: Media Housing Market August 2021

Zip Code(s): 19063 and 19065
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 8%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -31%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 55 sold this month in Media Real Estate versus 51 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 8% versus August 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 2 units or 3%. The total number of active inventory this August was 72 compared to 70 in August 2020. This month's total of 72 is higher than the previous month's total supply of available inventory of 71, an increase of 1%.

Median Sale Price
Last August, the median sale price for Media Homes was $556,000. This August, the median sale price was $530,000, a decrease of 5% or $26,000 compared to last year. The current median sold price is 5% higher 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 7%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In August, there was 1.3 months of supply available in Media. The amount of supply is similar compared to 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 61 homes newly listed for sale in Media compared to 57 in August 2020, an increase of 7%. There were 52 current contracts pending sale this August compared to 57 a year ago. The number of current contracts is 9% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Media was 101.5% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 26, a decrease of 31%.

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.