The Long & Foster Market Minute
Focus On: Audubon, East Norriton, and West Norriton Housing Market April 2017
Zip Code(s): 19403 and 19456
Units Sold
51
Active Inventory
146
Median Sale Price
$243,750
Days On Market
56
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 4%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -38%
Vs. Year Ago
Units Sold
There was an increase in total units sold in April, with 51 sold this month in Audubon, East Norriton, and West Norriton Real Estate versus 42 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 4% versus April 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 102 units or 41%. The total number of active inventory this April was 146 compared to 248 in April 2016. This month's total of 146 is higher than the previous month's total supply of available inventory of 142, an increase of 3%.

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Median Sale Price
Last April, the median sale price for Audubon, East Norriton, and West Norriton Homes was $207,000. This April, the median sale price was $243,750, an increase of 18% or $36,750 compared to last year. The current median sold price is 11% higher than in March.

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

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New Listings
67
Current Contracts
49
Sold Vs. List Price
97.1%
Months of Supply
2.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -39%
Vs. Year Ago
Down -37%
Vs. Year Ago
No Change
Vs. Year Ago
Down -43%
Vs. Year Ago
Months of Supply
In April, there was 2.9 months of supply available in Audubon, East Norriton, and West Norriton, compared to 5.1 in April 2016. That is a decrease of 43% 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.

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New Listings & Current Contracts
This month there were 67 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 109 in April 2016, a decrease of 39%. There were 49 current contracts pending sale this April compared to 78 a year ago. The number of current contracts is 37% lower than last April.

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Sale Price to List Price Ratio
In April, the average sale price in Audubon, East Norriton, and West Norriton was 97.1% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 56, lower than the average last year, which was 91, a decrease of 38%.

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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 TREND 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 TREND or Long & Foster Real Estate, Inc.