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| MARCH 2025 | |||
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| Zip Code(s): 19151 | |||
| Units Sold 16 |
Active Inventory 60 |
Median Sale Price $157,500 |
Days On Market 45 |
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| No Change Vs. Year Ago |
Up 25% Vs. Year Ago |
Down Vs. Year Ago |
Down -13% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in March, with 16 sold this month in Morris Park Real Estate, a decrease of 20%. This month's total units sold is similar compared to a year ago. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 12 units or 25%. The total number of active inventory this March was 60 compared to 48 in March 2024. This month's total of 60 is lower than the previous month's total supply of available inventory of 71, a decrease of 15%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Morris Park Homes was $190,500. This March, the median sale price was $157,500, a decrease of $33,000 compared to last year. The current median sold price is lower than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 22 |
Current Contracts 25 |
Sold Vs. List Price 97.0% |
Months of Supply 3.8 |
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| Up 10% Vs. Year Ago |
Up 47% Vs. Year Ago |
Up 0.7% Vs. Year Ago |
Up 25% Vs. Year Ago |
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Months of Supply
In March, there was 3.8 months of supply available in Morris Park, compared to 3.0 in March 2024. That is an increase of 25% 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. |
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New Listings & Current Contracts
This month there were 22 homes newly listed for sale in Morris Park compared to 20 in March 2024, an increase of 10%. There were 25 current contracts pending sale this March compared to 17 a year ago. The number of current contracts is 47% higher than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Morris Park was 97.0% of the average list price, which is 0.7% higher than at this time last year. Days on Market
This month, the average number of days on market was 45, lower than the average last year, which was 52, a decrease of 13%. | |||
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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. |
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