The Long & Foster Market Minute

Focus On: Morris Park and Wynnefield Housing Market August 2021

Zip Code(s): 19151 and 19131
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -62%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 40 sold this month in Morris Park and Wynnefield Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 16 units or 17%. The total number of active inventory this August was 110 compared to 94 in August 2020. This month's total of 110 is lower than the previous month's total supply of available inventory of 120, a decrease of 8%.

Median Sale Price
Last August, the median sale price for Morris Park and Wynnefield Homes was $185,000. This August, the median sale price was $197,450, an increase of 7% or $12,450 compared to last year. The current median sold price is 17% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 23%
Vs. Year Ago
Up 37%
Vs. Year Ago
No Change
Vs. Year Ago
Up 113%
Vs. Year Ago

Months of Supply
In August, there was 2.8 months of supply available in Morris Park and Wynnefield, compared to 1.3 in August 2020. That is an increase of 114% 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 76 homes newly listed for sale in Morris Park and Wynnefield compared to 62 in August 2020, an increase of 23%. There were 63 current contracts pending sale this August compared to 46 a year ago. The number of current contracts is 37% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Morris Park and Wynnefield was 100.2% 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 14, lower than the average last year, which was 37, a decrease of 62%.

The Long & Foster Market Minute Morris Park and Wynnefield are defined as properties listed in zip code/s 19151 and 19131.
*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.