The Long & Foster Market Minute

Focus On: Conshohocken and Lafayette Hill Housing Market August 2020

Zip Code(s): 19428 and 19444
Units Sold
55
Active Inventory
74
Median Sale Price
$422,500
Days On Market
18
Up
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 55 sold this month in Conshohocken and Lafayette Hill Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 45 units or 38%. The total number of active inventory this August was 74 compared to 119 in August 2019. This month's total of 74 is lower than the previous month's total supply of available inventory of 85, a decrease of 13%.

Median Sale Price
Last August, the median sale price for Conshohocken and Lafayette Hill Homes was $365,000. This August, the median sale price was $422,500, an increase of 16% or $57,500 compared to last year. The current median sold price is 3% higher than in July.

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


New Listings
63
Current Contracts
64
Sold Vs. List Price
100.6%
Months of Supply
1.3
Up 110%
Vs. Year Ago
Up 78%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -60%
Vs. Year Ago

Months of Supply
In August, there was 1.3 months of supply available in Conshohocken and Lafayette Hill, compared to 3.4 in August 2019. That is a decrease of 60% 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 63 homes newly listed for sale in Conshohocken and Lafayette Hill compared to 30 in August 2019, an increase of 110%. There were 64 current contracts pending sale this August compared to 36 a year ago. The number of current contracts is 78% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Conshohocken and Lafayette Hill was 100.6% of the average list price, which is 2.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 34, a decrease of 47%.

The Long & Foster Market Minute Conshohocken and Lafayette Hill are defined as properties listed in zip code/s 19428 and 19444.
*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.