Single-Family Homes
Fri Feb 22 2019
This week the median list price for Narberth, PA is $937,000 with the market action index hovering around 45. This is less than last month's market action index of 47. Inventory has held steady at or around 14.
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
Today |
Last Month |
Strong Seller's Market
Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Median List Price | $937,000 | |
Per Square Foot | $239 | |
Days on Market | 200 | |
Price Decreased | 36% | |
Price Increased | 0% | |
Relisted | 29% | |
Inventory | 14 | |
Median House Rent | $2,375 | |
Most Expensive | $2,495,000 | |
Least Expensive | $177,900 | |
Market Action Index Strong Seller's Market | 45 |
This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend over the last several weeks.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$1,399,000 | 6,000 | 1 - 2.5 acres | 5 | 4 | 85 | 0 | 0 | 252 |
$1,025,000 | 4,894 | 1 - 2.5 acres | 5 | 4 | 89 | 0 | 0 | 478 |
$912,000 | 3,772 | 0.5 - 1 acre | 4 | 4 | 45 | 1 | 0 | 127 |
$491,950 | 1,922 | 0.5 - 1 acre | 3 | 2 | 81 | 2 | 0 | 24 |