Morris Park Housing Market Data

There was a decrease in total units sold in August, with 14 sold this month in Morris Park Real Estate versus 19 last month, a decrease of 26%. This month's total units sold was lower than at this time last year, a decrease of 30% versus August 2022.

Versus last year, the total number of homes available this month is lower by 2 units or 4%. The total number of active inventory this August was 53 compared to 55 in August 2022. This month's total of 53 is higher than the previous month's total supply of available inventory of 51, an increase of 4%.

Last August, the median sale price for Morris Park Homes was $210,250. This August, the median sale price was $210,000, which is similar compared to a year ago. The current median sold price is 13% 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 3.8 months of supply available in Morris Park, compared to 2.8 in August 2022. That is an increase of 38% 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 35 homes newly listed for sale in Morris Park, which is similar to the amount in August 2022. There were 23 current contracts pending sale this August compared to 27 a year ago. The number of current contracts is 15% lower than last August.

In August, the average sale price in Morris Park was 97.9% of the average list price, which is 3.1% lower than at this time last year.

This month, the average number of days on market was 59, higher than the average last year, which was 22. This increase was impacted by the limited number of sales.





Focus On: Morris Park Housing Market			August 2023

Zip Code(s): 19151
Units Sold 14	Active Inventory 53	Median Sale Price $210,000	Days On Market 59

Down -30% Vs. Year Ago	Down -4% Vs. Year Ago	No Change Vs. Year Ago	Up Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 14 sold this month in Morris Park Real Estate versus 19 last month, a decrease of 26%. This month's total units sold was lower than at this time last year, a decrease of 30% versus August 2022.
Active Inventory Versus last year, the total number of homes available this month is lower by 2 units or 4%. The total number of active inventory this August was 53 compared to 55 in August 2022. This month's total of 53 is higher than the previous month's total supply of available inventory of 51, an increase of 4%.
		Median Sale Price Last August, the median sale price for Morris Park Homes was $210,250. This August, the median sale price was $210,000, which is similar compared to a year ago. The current median sold price is 13% 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 35	Current Contracts 23	Sold Vs. List Price 97.9%	Months of Supply 3.8

No Change Vs. Year Ago	Down -15% Vs. Year Ago	Down -3% Vs. Year Ago	Up 38% Vs. Year Ago


		Months of Supply In August, there was 3.8 months of supply available in Morris Park, compared to 2.8 in August 2022. That is an increase of 38% 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 35 homes newly listed for sale in Morris Park, which is similar to the amount in August 2022. There were 23 current contracts pending sale this August compared to 27 a year ago. The number of current contracts is 15% lower than last August.
		Sale Price to List Price Ratio In August, the average sale price in Morris Park was 97.9% of the average list price, which is 3.1% lower than at this time last year. Days on Market This month, the average number of days on market was 59, higher than the average last year, which was 22. This increase was impacted by the limited number of sales.


	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.
	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.