The Long & Foster Market Minute

Focus On: Collegeville Housing Market October 2018

Zip Code(s): 19426 and 19453
Units Sold
37
Active Inventory
197
Median Sale Price
$310,000
Days On Market
35
Down -24%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 9%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 37 sold this month in Collegeville Real Estate versus 42 last month, a decrease of 12%. This month's total units sold was lower than at this time last year, a decrease of 24% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 20 units or 11%. The total number of active inventory this October was 197 compared to 177 in October 2017. This month's total of 197 is higher than the previous month's total supply of available inventory of 178, an increase of 11%.

Median Sale Price
Last October, the median sale price for Collegeville Homes was $350,000. This October, the median sale price was $310,000, a decrease of 11% or $40,000 compared to last year. The current median sold price is 3% 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.


New Listings
85
Current Contracts
46
Sold Vs. List Price
105.9%
Months of Supply
5.3
Up 67%
Vs. Year Ago
Up 44%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 47%
Vs. Year Ago

Months of Supply
In October, there was 5.3 months of supply available in Collegeville, compared to 3.6 in October 2017. That is an increase of 47% 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 85 homes newly listed for sale in Collegeville compared to 51 in October 2017, an increase of 67%. There were 46 current contracts pending sale this October compared to 32 a year ago. The number of current contracts is 44% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Collegeville was 105.9% of the average list price, which is 5.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 35, higher than the average last year, which was 32, an increase of 9%.

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.