The Long & Foster Market Minute

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

Zip Code(s): 19403 and 19456
Units Sold
50
Active Inventory
135
Median Sale Price
$264,950
Days On Market
51
Down -2%
Vs. Year Ago
Down -8%
Vs. Year Ago
No Change
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 50 sold this month in Audubon, East Norriton, and West Norriton Real Estate versus 46 last month, an increase of 9%. This month's total units sold was lower than at this time last year, a decrease of 2% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 11 units or 8%. The total number of active inventory this April was 135 compared to 146 in April 2018. This month's total of 135 is higher than the previous month's total supply of available inventory of 123, an increase of 10%.

Median Sale Price
Last April, the median sale price for Audubon, East Norriton, and West Norriton Homes was $265,000. This April, the median sale price was $264,950, which is similar compared to a year ago. The current median sold price is 3% lower 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.


New Listings
111
Current Contracts
91
Sold Vs. List Price
98.4%
Months of Supply
2.7
Up 34%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -6%
Vs. Year Ago

Months of Supply
In April, there was 2.7 months of supply available in Audubon, East Norriton, and West Norriton, compared to 2.9 in April 2018. That is a decrease of 6% 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 111 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 83 in April 2018, an increase of 34%. There were 91 current contracts pending sale this April compared to 73 a year ago. The number of current contracts is 25% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Audubon, East Norriton, and West Norriton was 98.4% of the average list price, which is 0.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 51, lower than the average last year, which was 53, 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.