The Long & Foster Market Minute

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

Zip Code(s): 19403 and 19456
Units Sold
56
Active Inventory
153
Median Sale Price
$289,555
Days On Market
42
Down -3%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -35%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 56 sold this month in Audubon, East Norriton, and West Norriton Real Estate versus 80 last month, a decrease of 30%. This month's total units sold was lower than at this time last year, a decrease of 3% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 8 units or 5%. The total number of active inventory this August was 153 compared to 161 in August 2017. This month's total of 153 is lower than the previous month's total supply of available inventory of 161, a decrease of 5%.

Median Sale Price
Last August, the median sale price for Audubon, East Norriton, and West Norriton Homes was $284,950. This August, the median sale price was $289,555, an increase of 2% or $4,605 compared to last year. The current median sold price is 2% lower than in July.

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


New Listings
79
Current Contracts
58
Sold Vs. List Price
98.6%
Months of Supply
2.7
Up 8%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In August, there was 2.7 months of supply available in Audubon, East Norriton, and West Norriton. The amount of supply is similar compared to 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 79 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 73 in August 2017, an increase of 8%. There were 58 current contracts pending sale this August compared to 60 a year ago. The number of current contracts is 3% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Audubon, East Norriton, and West Norriton was 98.6% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 42, lower than the average last year, which was 65, a decrease of 35%.

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 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.