The Long & Foster Market Minute

Focus On: Collegeville Housing Market May 2020

Zip Code(s): 19426 and 19453
Units Sold
31
Active Inventory
114
Median Sale Price
$325,000
Days On Market
21
Down
Vs. Year Ago
Down -28%
Vs. Year Ago
Down -15%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in May, with 31 sold this month in Collegeville Real Estate. This month's total units sold was lower than at this time last year, a decrease from May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 44 units or 28%. The total number of active inventory this May was 114 compared to 158 in May 2019. This month's total of 114 is lower than the previous month's total supply of available inventory of 116, a decrease of 2%.

Median Sale Price
Last May, the median sale price for Collegeville Homes was $381,000. This May, the median sale price was $325,000, a decrease of 15% or $56,000 compared to last year. The current median sold price is 13% 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
53
Current Contracts
46
Sold Vs. List Price
98.6%
Months of Supply
3.7
Down -47%
Vs. Year Ago
Down -34%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Up 44%
Vs. Year Ago

Months of Supply
In May, there was 3.7 months of supply available in Collegeville, compared to 2.5 in May 2019. That is an increase of 44% 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 53 homes newly listed for sale in Collegeville compared to 100 in May 2019, a decrease of 47%. There were 46 current contracts pending sale this May compared to 70 a year ago. The number of current contracts is 34% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Collegeville was 98.6% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 48. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Collegeville are defined as properties listed in zip code/s 19426 and 19453.
*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.