The Long & Foster Market Minute

Focus On: New Freedom, Glen Rock, and Seven Valleys Housing Market September 2021

Zip Code(s): 17349, 17327, 17360, 17361, 17342 and 17355
Units Sold
45
Active Inventory
34
Median Sale Price
$290,000
Days On Market
14
Down -2%
Vs. Year Ago
Down -47%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -26%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 45 sold this month in New Freedom, Glen Rock, and Seven Valleys Real Estate versus 47 last month, a decrease of 4%. This month's total units sold was lower than at this time last year, a decrease of 2% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 47%. The total number of active inventory this September was 34 compared to 64 in September 2020. This month's total of 34 is lower than the previous month's total supply of available inventory of 37, a decrease of 8%.

Median Sale Price
Last September, the median sale price for New Freedom, Glen Rock, and Seven Valleys Homes was $278,215. This September, the median sale price was $290,000, an increase of 4% or $11,785 compared to last year. The current median sold price is 7% higher than in August.

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


New Listings
30
Current Contracts
27
Sold Vs. List Price
100.6%
Months of Supply
0.8
Down -35%
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In September, there was 0.8 months of supply available in New Freedom, Glen Rock, and Seven Valleys, compared to 1.4 in September 2020. That is a decrease of 46% 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 30 homes newly listed for sale in New Freedom, Glen Rock, and Seven Valleys compared to 46 in September 2020, a decrease of 35%. There were 27 current contracts pending sale this September compared to 37 a year ago. The number of current contracts is 27% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in New Freedom, Glen Rock, and Seven Valleys was 100.6% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 19, a decrease of 26%.

The Long & Foster Market Minute New Freedom, Glen Rock, and Seven Valleys are defined as properties listed in zip code/s 17349, 17327, 17360, 17361, 17342 and 17355.
*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.