The Long & Foster Market Minute

Focus On: Audubon, East Norriton, and West Norriton Housing Market February 2019

Zip Code(s): 19403 and 19456
Units Sold
23
Active Inventory
106
Median Sale Price
$200,000
Days On Market
57
Up
Vs. Year Ago
Down -28%
Vs. Year Ago
Down
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 23 sold this month in Audubon, East Norriton, and West Norriton Real Estate. This month's total units sold was higher than at this time last year, an increase from February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 41 units or 28%. The total number of active inventory this February was 106 compared to 147 in February 2018. This month's total of 106 is lower than the previous month's total supply of available inventory of 113, a decrease of 6%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Audubon, East Norriton, and West Norriton Homes was $221,000. This February, the median sale price was $200,000, a decrease of $21,000 compared to last year. The current median sold price is lower than in January.

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


New Listings
66
Current Contracts
59
Sold Vs. List Price
99.5%
Months of Supply
4.6
Up 3%
Vs. Year Ago
Up 55%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -40%
Vs. Year Ago

Months of Supply
In February, there was 4.6 months of supply available in Audubon, East Norriton, and West Norriton, compared to 7.7 in February 2018. That is a decrease of 40% 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 66 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 64 in February 2018, an increase of 3%. There were 59 current contracts pending sale this February compared to 38 a year ago. The number of current contracts is 55% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Audubon, East Norriton, and West Norriton was 99.5% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 57, lower than the average last year, which was 68, a decrease of 16%.

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.