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Philadelphia Metropolitan Area Market Conditions
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® The Long & Foster Market Conditions Report
30
Philadelphia Metropolitan Area - September 2013
●
● The current median sale price was 7%
lower than in August.
This September, the median sale price
was $215,000, an increase of 2%
compared to last year.
Highlights
$2
08
,00
0
$2
00
,00
0
$1
99
,90
0
$1
95
,00
0
$1
97
,00
0
$1
83
,75
0
$1
93
,00
0
$2
03
,00
0
$2
17
,00
0
$2
30
,00
0
$2
27
,21
5
$2
23
,00
0
$2
10
,00
0
$2
03
,00
0
$2
10
,00
0
$2
06
,81
1
$1
90
,00
0
$1
85
,00
0
$2
06
,00
0
$2
06
,00
0
$2
20
,00
0
$2
39
,00
0
$2
38
,00
0
$2
30
,00
0
$2
15
,00
0
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
Median Sales Price
$134,9
00
$254,4
00
$265,0
00
$282,5
00
$190,0
00
$149,0
00
$247,5
00
$270,0
00
$285,0
00
$210,0
00
$0
$100,000
$200,000
$300,000
$400,000
$500,000
Philadelphia
County
Montgomery
County
Bucks
County
Chester
County
Delaware
County
Median Sale PriceOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
-6%
-5%
-5%
-8%
-2%
-5%
-2%
4%
3%
0%
3%
1%
1% 2
%
5%
6%
-4%
1%
7%
1%
1%
4% 5
%
3%
2%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
Median Sale PricePercent Change Year/Year
® The Long & Foster Market Conditions Report
31
Philadelphia Metropolitan Area - September 2013
3,3
09
2,9
83
3,0
26
3,1
89
2,4
98
2,4
41
3,3
65
3,5
90
4,2
45
4,8
57
4,29
2 4,70
5
3,7
07
3,4
89 4
,03
4
3,5
70
2,88
2
2,75
0
3,6
37
4,33
1
5,15
4
5,7
67
5,5
79
5,2
97
4,1
31
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Total Units Sold
845
642
459
467
394
934
731
555
495
459
0
500
1,000
1,500
Philadelphia
County
Montgomery
County
Bucks
County
Chester
County
Delaware
County
Total Units SoldOf Top Five Counties/Cities Based on Total Units
Sold
One Year Ago Current Month
●
● There was a decrease of 22% in total
units sold in September compared to
August.
This month's total units sold was
higher than at this time last year, an
increase of 11% versus September 2012.
Highlights8
%
6%
11
%
6%
9%
12
%
13
%
12
%
19
%
14
%
14
%
17
%
12
%
17
%
33
%
12
%
15
%
13
%
8%
21
%
21
%
19
%
30
%
13
%
11
%
0%
10%
20%
30%
40%
Total Units SoldPercent Change Year/Year
® The Long & Foster Market Conditions Report
32
Philadelphia Metropolitan Area - September 2013
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Total Units Sold by Type
Detached Attached Condo
2,258
55%
1,603
39%
270
6%
Total Units Sold by TypeCurrent Month
Detached Attached Condo
1,181
29%
1,730
42%
765
18%
261
6%
194
5%
Total Units Sold by Price RangeCurrent Month
< 150K 150K to < 300K 300K to < 450K
450K to < 600K 600K and up
0
500
1,000
1,500
2,000
2,500
3,000
Total Units Sold by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
® The Long & Foster Market Conditions Report
33
Philadelphia Metropolitan Area - September 20133
8,9
01
37
,70
4
35
,91
3
31
,94
4
32
,51
0
33
,36
6
34
,63
1
35
,77
6
36
,27
5
35
,69
3
35
,10
3
34
,36
9
34
,15
0
33
,04
7
31
,42
5
27
,65
0
28
,14
6
28
,72
9
29
,32
8
30
,74
4
31
,48
1
31
,16
2
30
,92
2
29
,96
5
30
,33
9
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
Total Active Inventory
8,5
48
4,6
79
3,7
73
3,3
45
3,6
78
7,3
09
4,4
38
3,3
37
2,9
36
3,3
13
0
2,000
4,000
6,000
8,000
10,000
Philadelphia
County
Montgomery
County
Bucks
County
Chester
County
Delaware
County
Total Active InventoryOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
-5%
-6%
-7%
-8%
-7% -6
%
-7%
-9%
-11
%
-13
%
-14
%
-13
%
-12
%
-12
%
-12
%
-13
%
-13
%
-14
%
-15
% -14
%
-13
%
-13
%
-12
%
-13
% -11
%
-25%
-20%
-15%
-10%
-5%
0%
Total Active InventoryPercent Change Year/Year
●
● Versus September 2012, the total
number of homes available was lower
by 3,811 units or 11%.
This month's supply of available
inventory remained relatively stable
compared to last month.
Highlights
® The Long & Foster Market Conditions Report
34
Philadelphia Metropolitan Area - September 2013
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
Total Active Inventory by Type
Detached Attached Condo
16,589
55%
11,981
39%
1,769
6%
Total Active Inventory
by TypeCurrent Month
Detached Attached Condo
10,036
33%
11,327
37%
4,211
14%
1,868
6%
2,897
10%
Total Active Inventory by
Price RangeCurrent Month
< 150K 150K to < 300K 300K to < 450K
450K to < 600K 600K and up
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
Total Active Inventory by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
® The Long & Foster Market Conditions Report
35
Philadelphia Metropolitan Area - September 2013
94
.7%
94
.3%
94
.3% 9
4.7
%
93
.7% 9
4.1
%
95
.1%
95
.3% 9
5.6
%
95
.7%
95
.7%
95
.2% 95
.5%
95
.4%
95
.4%
95
.3%
95
.4%
95
.1%
96
.1%
96
.1% 9
6.4
%
96
.5% 96
.8%
96
.7%
96
.5%
92.0%
92.5%
93.0%
93.5%
94.0%
94.5%
95.0%
95.5%
96.0%
96.5%
97.0%
97.5%
Average Sale Price as a Percent of List Price
94.7
%
95.8
%
95.4
%
96.4
%
95.0
%
95.5
%
96.6
%
97.4
%
97.0
%
96.0
%
92.0%
94.0%
96.0%
98.0%
100.0%
Philadelphia
County
Montgomery
County
Bucks
County
Chester
County
Delaware
County
Sale Price as % of List PriceOf Top Five Counties/Cities Based on Total Units
Sold
One Year Ago Current Month
Days on Market
Current
Month
One Year
Ago78 92
Down -15% Vs. Year
Ago
Avg Sale Price as % of List Price
Current
Month
One Year
Ago96.5% 95.5%
Up 1.0% Vs. Year Ago
84%
86%
88%
90%
92%
94%
96%
98%
100%
Average Sale Price as a Percent of List Price by Price Range
< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up
98
104107
105108
114112
107
97
8790 91 92
94 94 94
102101101
92
81
71 70
74
78
60
70
80
90
100
110
120Days on Market
® The Long & Foster Market Conditions Report
36
Philadelphia Metropolitan Area - September 2013$8
08,6
01
$717
,149
$729
,329
$758
,191
$603
,589
$544
,945 $7
85,8
07
$885
,309
$1,0
94,5
32 $1,3
32,3
82
$1,1
64,0
37
$1,2
72,4
78
$944
,140
$860
,168
$1,0
02,2
62
$906
,351
$674
,998
$620
,916
$893
,979
$1,0
77,5
14 $1,3
84,5
05 $1,6
77,9
81
$1,5
79,3
99
$1,4
53,1
70
$1,0
78,1
57
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
Total Dollar Volume SoldIn Thousands
Total Dollar Volume Sold
Current
Month
One Year
Ago$1,078,156,634 $944,139,680
Up 14% Vs. Year Ago
Months of Supply
Current
Month
One Year
Ago7.3 9.2
Down -20% Vs. Year Ago
11
.8 12
.6
11
.9
10
.0
13
.0 13
.7
10
.3
10
.0
8.6
7.4
8.2
7.3
9.2 9.5
7.8
7.8
9.8 10
.5
8.1
7.1
6.1
5.4 5.5 5.7
7.3
0
2
4
6
8
10
12
14
16
Months of SupplyCurrent Month's Active Inventory/Current Month's Unit Sales
●
●
Total volume sold this September was
14% greater than the same month one
year ago.
In September, there was 7.3 months of
supply available, compared to 9.2 in
September 2012. That was a decrease
of 20% versus a year ago.
Highlights
® The Long & Foster Market Conditions Report
37
Philadelphia Metropolitan Area - September 20136
,69
7
6,3
63
5,0
81
3,7
04
6,8
94
7,4
67
9,1
16
8,5
06
8,0
81
7,3
91
6,9
19
6,8
53
6,7
48
6,4
07
4,7
56
3,4
67
7,1
85
7,0
09
8,6
95 9
,85
5
9,1
54
7,7
93
7,6
96
6,9
96
7,2
97
2,9
53
3,2
25
2,8
93
2,4
51
3,0
39 3,8
06 4,5
86
4,4
24
4,4
45
4,1
80
4,0
55
4,0
29
3,5
21
4,0
28
3,0
57
2,7
89 3,7
08
4,0
23 5
,30
2
5,8
04
5,4
88
4,8
44
4,6
79
4,3
77
3,2
36
0
2,000
4,000
6,000
8,000
10,000
12,000
New Listings & New Contracts
New Listings New Contracts (Under Active Contract Status)
New Listings
Current
Month
One Year
Ago7,297 6,748
Up 8% Vs. Year Ago
New Contracts
Current
Month
One Year
Ago3,236 3,521
Down -8% Vs. Year
Ago
2.3
2.0
1.8
1.5
2.3
2.0 2.01.9
1.8 1.81.7 1.7
1.9
1.6 1.6
1.2
1.9
1.71.6
1.7 1.71.6 1.6 1.6
2.3
0.0
0.5
1.0
1.5
2.0
2.5
Supply/Demand RatioNumber of New Listings to New Contracts
1,8
10
1,0
98
758
682
754
1,8
95
1,2
01
881
776
833
0
500
1,000
1,500
2,000
Philadelphia
County
Montgomery
County
Bucks
County
Chester
County
Delaware
County
New ListingsOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
788
607
452
436
398
780
563
442
334
321
0
500
1,000
1,500
Philadelphia
County
Montgomery
County
Bucks
County
Chester
County
Delaware
County
New ContractsOf Top Five Counties/Cities Based on Total Units Sold
One Year Ago Current Month
● Based on this month's amount of new
listings and new contracts, the ratio of
home supply (new listings) to current
home demand (new contracts) was 2.3,
an increase of 18% from September
2012.
Highlights
