The Long & Foster Market Minute

Focus On: Morris Park Housing Market December 2021

Zip Code(s): 19151
Units Sold
22
Active Inventory
40
Median Sale Price
$210,000
Days On Market
22
Down -21%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 16%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 22 sold this month in Morris Park Real Estate versus 20 last month, an increase of 10%. This month's total units sold was lower than at this time last year, a decrease of 21% versus December 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 3%. The total number of active inventory this December was 40 compared to 39 in December 2020. This month's total of 40 is lower than the previous month's total supply of available inventory of 54, a decrease of 26%.

Median Sale Price
Last December, the median sale price for Morris Park Homes was $185,000. This December, the median sale price was $210,000, an increase of 14% or $25,000 compared to last year. The current median sold price is 6% higher than in November.

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


New Listings
17
Current Contracts
19
Sold Vs. List Price
99.6%
Months of Supply
1.8
Down -15%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Up 31%
Vs. Year Ago

Months of Supply
In December, there was 1.8 months of supply available in Morris Park, compared to 1.4 in December 2020. That is an increase of 31% 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 17 homes newly listed for sale in Morris Park compared to 20 in December 2020, a decrease of 15%. There were 19 current contracts pending sale this December compared to 21 a year ago. The number of current contracts is 10% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Morris Park was 99.6% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, higher than the average last year, which was 19, an increase of 16%.

The Long & Foster Market Minute Morris Park are defined as properties listed in zip code/s 19151.
*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.