The Long & Foster Market Minute

Focus On: Audubon, East Norriton, and West Norriton Housing Market October 2018

Zip Code(s): 19403 and 19456
Units Sold
53
Active Inventory
164
Median Sale Price
$285,000
Days On Market
50
Up 20%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 53 sold this month in Audubon, East Norriton, and West Norriton Real Estate versus 57 last month, a decrease of 7%. This month's total units sold was higher than at this time last year, an increase of 20% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 16 units or 11%. The total number of active inventory this October was 164 compared to 148 in October 2017. This month's total of 164 is lower than the previous month's total supply of available inventory of 184, a decrease of 11%.

Median Sale Price
Last October, the median sale price for Audubon, East Norriton, and West Norriton Homes was $239,000. This October, the median sale price was $285,000, an increase of 19% or $46,000 compared to last year. The current median sold price is 10% higher than in September.

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


New Listings
60
Current Contracts
60
Sold Vs. List Price
96.9%
Months of Supply
3.1
Up 15%
Vs. Year Ago
Up 20%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -8%
Vs. Year Ago

Months of Supply
In October, there was 3.1 months of supply available in Audubon, East Norriton, and West Norriton, compared to 3.4 in October 2017. That is a decrease of 8% 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 60 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 52 in October 2017, an increase of 15%. There were 60 current contracts pending sale this October compared to 50 a year ago. The number of current contracts is 20% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Audubon, East Norriton, and West Norriton was 96.9% of the average list price, which is 1.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 50, lower than the average last year, which was 52, a decrease of 4%.

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.