The Long & Foster Market Minute

Focus On: Audubon, East Norriton, and West Norriton Housing Market May 2020

Zip Code(s): 19403 and 19456
Units Sold
35
Active Inventory
101
Median Sale Price
$302,500
Days On Market
24
Down
Vs. Year Ago
Down -35%
Vs. Year Ago
Up
Vs. Year Ago
Down -33%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 35 sold this month in Audubon, East Norriton, and West Norriton Real Estate. This month's total units sold was lower than at this time last year, a decrease from May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 54 units or 35%. The total number of active inventory this May was 101 compared to 155 in May 2019. This month's total of 101 is higher than the previous month's total supply of available inventory of 95, an increase of 6%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Audubon, East Norriton, and West Norriton Homes was $235,000. This May, the median sale price was $302,500, an increase of $67,500 compared to last year. The current median sold price is higher than in April.

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


New Listings
46
Current Contracts
33
Sold Vs. List Price
98.4%
Months of Supply
2.9
Down -52%
Vs. Year Ago
Down -55%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Up 47%
Vs. Year Ago

Months of Supply
In May, there was 2.9 months of supply available in Audubon, East Norriton, and West Norriton, compared to 2.0 in May 2019. That is an increase of 47% 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 46 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 95 in May 2019, a decrease of 52%. There were 33 current contracts pending sale this May compared to 74 a year ago. The number of current contracts is 55% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Audubon, East Norriton, and West Norriton was 98.4% of the average list price, which is 0.7% lower 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 36, a decrease of 33%.

The Long & Foster Market Minute Audubon, East Norriton, and West Norriton are defined as properties listed in zip code/s 19403 and 19456.
*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.