The Long & Foster Market Minute

Focus On: Morris Park and Wynnefield Housing Market October 2022

Zip Code(s): 19151 and 19131
Units Sold
47
Active Inventory
147
Median Sale Price
$223,000
Days On Market
38
Down -24%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 19%
Vs. Year Ago
Up 19%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 47 sold this month in Morris Park and Wynnefield Real Estate versus 54 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 24% versus October 2021.

Active Inventory
Versus last year, the total number of homes available this month is higher by 20 units or 16%. The total number of active inventory this October was 147 compared to 127 in October 2021. This month's total of 147 is lower than the previous month's total supply of available inventory of 157, a decrease of 6%.

Median Sale Price
Last October, the median sale price for Morris Park and Wynnefield Homes was $187,950. This October, the median sale price was $223,000, an increase of $35,050 compared to last year. The current median sold price is higher than in September.

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


New Listings
71
Current Contracts
38
Sold Vs. List Price
97.7%
Months of Supply
3.1
Up 9%
Vs. Year Ago
Down -33%
Vs. Year Ago
Down -1.8%
Vs. Year Ago
Up 53%
Vs. Year Ago

Months of Supply
In October, there was 3.1 months of supply available in Morris Park and Wynnefield, compared to 2.0 in October 2021. That is an increase of 53% 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 71 homes newly listed for sale in Morris Park and Wynnefield compared to 65 in October 2021, an increase of 9%. There were 38 current contracts pending sale this October compared to 57 a year ago. The number of current contracts is 33% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Morris Park and Wynnefield was 97.7% of the average list price, which is 1.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 38, higher than the average last year, which was 32, an increase of 19%.

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.