The Long & Foster Market Minute

Focus On: Havertown and Broomall Housing Market August 2018

Zip Code(s): 19008 and 19083
Units Sold
66
Active Inventory
104
Median Sale Price
$350,500
Days On Market
47
No Change
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 42%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 66 sold this month in Havertown and Broomall Real Estate, a decrease of 13%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 12 units or 10%. The total number of active inventory this August was 104 compared to 116 in August 2017. This month's total of 104 is higher than the previous month's total supply of available inventory of 88, an increase of 18%.

Median Sale Price
Last August, the median sale price for Havertown and Broomall Homes was $322,500. This August, the median sale price was $350,500, an increase of 9% or $28,000 compared to last year. The current median sold price is 2% 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
66
Current Contracts
39
Sold Vs. List Price
98.2%
Months of Supply
1.6
Up 8%
Vs. Year Ago
Down -20%
Vs. Year Ago
No Change
Vs. Year Ago
Down -10%
Vs. Year Ago

Months of Supply
In August, there was 1.6 months of supply available in Havertown and Broomall, compared to 1.8 in August 2017. That is a decrease of 10% 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 66 homes newly listed for sale in Havertown and Broomall compared to 61 in August 2017, an increase of 8%. There were 39 current contracts pending sale this August compared to 49 a year ago. The number of current contracts is 20% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Havertown and Broomall was 98.2% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 47, higher than the average last year, which was 33, an increase of 42%.

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.