The Long & Foster Market Minute

Focus On: Audubon, East Norriton, and West Norriton Housing Market October 2017

Zip Code(s): 19403 and 19456
Units Sold
43
Active Inventory
143
Median Sale Price
$240,000
Days On Market
52
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -9%
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 43 sold this month in Audubon, East Norriton, and West Norriton Real Estate versus 56 last month, a decrease of 23%. This month's total units sold was lower than at this time last year, a decrease of 9% versus October 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 61 units or 30%. The total number of active inventory this October was 143 compared to 204 in October 2016. This month's total of 143 is lower than the previous month's total supply of available inventory of 151, a decrease of 5%.

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Median Sale Price
Last October, the median sale price for Audubon, East Norriton, and West Norriton Homes was $225,000. This October, the median sale price was $240,000, an increase of 7% or $15,000 compared to last year. The current median sold price is 2% 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.

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New Listings
50
Current Contracts
43
Sold Vs. List Price
97.9%
Months of Supply
3.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -14%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In October, there was 3.3 months of supply available in Audubon, East Norriton, and West Norriton, compared to 4.3 in October 2016. That is a decrease of 23% 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 50 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 58 in October 2016, a decrease of 14%. There were 43 current contracts pending sale this October compared to 48 a year ago. The number of current contracts is 10% lower than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Audubon, East Norriton, and West Norriton was 97.9% of the average list price, which is 0.7% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 52, lower than the average last year, which was 98, a decrease of 47%.

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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.