Olney and Oaklane Housing Market Data

There was a decrease in total units sold in September, with 110 sold this month in Olney and Oaklane Real Estate versus 135 last month, a decrease of 19%. This month's total units sold was lower than at this time last year, a decrease of 23% versus September 2020.

Versus last year, the total number of homes available this month is higher by 11 units or 5%. The total number of active inventory this September was 221 compared to 210 in September 2020. This month's total of 221 is higher than the previous month's total supply of available inventory of 213, an increase of 4%.

Last September, the median sale price for Olney and Oaklane Homes was $160,000. This September, the median sale price was $197,500, an increase of 23% or $37,500 compared to last year. The current median sold price is 10% 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.

In September, there was 2.0 months of supply available in Olney and Oaklane, compared to 1.5 in September 2020. That is an increase of 37% 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 176 homes newly listed for sale in Olney and Oaklane compared to 165 in September 2020, an increase of 7%. There were 125 current contracts pending sale this September compared to 128 a year ago. The number of current contracts is 2% lower than last September.

In September, the average sale price in Olney and Oaklane was 100.3% of the average list price, which is 1.1% higher than at this time last year.

This month, the average number of days on market was 24, lower than the average last year, which was 39, a decrease of 38%.





Focus On: Olney and Oaklane Housing Market			September 2021

Zip Code(s): 19150, 19138, 19126, 19141 and 19120
Units Sold 110	Active Inventory 221	Median Sale Price $197,500	Days On Market 24

Down -23% Vs. Year Ago	Up 5% Vs. Year Ago	Up 23% Vs. Year Ago	Down -38% Vs. Year Ago


		Units Sold There was a decrease in total units sold in September, with 110 sold this month in Olney and Oaklane Real Estate versus 135 last month, a decrease of 19%. This month's total units sold was lower than at this time last year, a decrease of 23% versus September 2020.
Active Inventory Versus last year, the total number of homes available this month is higher by 11 units or 5%. The total number of active inventory this September was 221 compared to 210 in September 2020. This month's total of 221 is higher than the previous month's total supply of available inventory of 213, an increase of 4%.
		Median Sale Price Last September, the median sale price for Olney and Oaklane Homes was $160,000. This September, the median sale price was $197,500, an increase of 23% or $37,500 compared to last year. The current median sold price is 10% 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 176	Current Contracts 125	Sold Vs. List Price 100.3%	Months of Supply 2.0

Up 7% Vs. Year Ago	Down -2% Vs. Year Ago	Up 1.1% Vs. Year Ago	Up 37% Vs. Year Ago


		Months of Supply In September, there was 2.0 months of supply available in Olney and Oaklane, compared to 1.5 in September 2020. That is an increase of 37% 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 176 homes newly listed for sale in Olney and Oaklane compared to 165 in September 2020, an increase of 7%. There were 125 current contracts pending sale this September compared to 128 a year ago. The number of current contracts is 2% lower than last September.
		Sale Price to List Price Ratio In September, the average sale price in Olney and Oaklane was 100.3% of the average list price, which is 1.1% higher than at this time last year. Days on Market This month, the average number of days on market was 24, lower than the average last year, which was 39, a decrease of 38%.


	Olney and Oaklane are defined as properties listed in zip code/s 19150, 19138, 19126, 19141 and 19120.
	*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.