The Long & Foster Market Minute

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

Zip Code(s): 19403 and 19456
Units Sold
65
Active Inventory
153
Median Sale Price
$255,000
Days On Market
48
Up 16%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 30%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 65 sold this month in Audubon, East Norriton, and West Norriton Real Estate versus 51 last month, an increase of 27%. This month's total units sold was higher than at this time last year, an increase of 16% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1 units or 1%. The total number of active inventory this May was 153 compared to 154 in May 2017. This month's total of 153 is higher than the previous month's total supply of available inventory of 137, an increase of 12%.

Median Sale Price
Last May, the median sale price for Audubon, East Norriton, and West Norriton Homes was $258,750. This May, the median sale price was $255,000, a decrease of 1% or $3,750 compared to last year. The current median sold price is 4% lower than in April.

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


New Listings
106
Current Contracts
75
Sold Vs. List Price
98.7%
Months of Supply
2.4
Up 32%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In May, there was 2.4 months of supply available in Audubon, East Norriton, and West Norriton, compared to 2.8 in May 2017. That is a decrease of 14% 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 106 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 80 in May 2017, an increase of 33%. There were 75 current contracts pending sale this May compared to 64 a year ago. The number of current contracts is 17% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Audubon, East Norriton, and West Norriton was 98.7% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 48, higher than the average last year, which was 37, an increase of 30%.

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.