The Long & Foster Market Minute

Focus On: Havertown and Broomall Housing Market October 2017

Zip Code(s): 19008 and 19083
Units Sold
49
Active Inventory
118
Median Sale Price
$305,000
Days On Market
32
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -16%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -41%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 49 sold this month in Havertown and Broomall Real Estate versus 47 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 16% versus October 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 28 units or 19%. The total number of active inventory this October was 118 compared to 146 in October 2016. This month's total of 118 is higher than the previous month's total supply of available inventory of 116, an increase of 2%.

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Median Sale Price
Last October, the median sale price for Havertown and Broomall Homes was $299,850. This October, the median sale price was $305,000, an increase of 2% or $5,150 compared to last year. The current median sold price is 9% lower 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.

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New Listings
60
Current Contracts
39
Sold Vs. List Price
98.1%
Months of Supply
2.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -14%
Vs. Year Ago
Down -47%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Down -4%
Vs. Year Ago

Months of Supply
In October, there was 2.4 months of supply available in Havertown and Broomall, compared to 2.5 in October 2016. That is a decrease of 4% 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.

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New Listings & Current Contracts
This month there were 60 homes newly listed for sale in Havertown and Broomall compared to 70 in October 2016, a decrease of 14%. There were 39 current contracts pending sale this October compared to 73 a year ago. The number of current contracts is 47% lower than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Havertown and Broomall was 98.1% of the average list price, which is 1.2% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 32, lower than the average last year, which was 54, a decrease of 41%.

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The Long & Foster Market Minute Havertown and Broomall are defined as properties listed in zip code/s 19008 and 19083.
*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.