The Long & Foster Market Minute

Focus On: Malvern, Paoli, and Berwyn Housing Market May 2020

Zip Code(s): 19355, 19301, 19312 and 19333
Units Sold
42
Active Inventory
208
Median Sale Price
$591,924
Days On Market
54
Down
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 42 sold this month in Malvern, Paoli, and Berwyn Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 84 units or 29%. The total number of active inventory this May was 208 compared to 292 in May 2019. This month's total of 208 is higher than the previous month's total supply of available inventory of 202, an increase of 3%.

Median Sale Price
Last May, the median sale price for Malvern, Paoli, and Berwyn Homes was $537,225. This May, the median sale price was $591,924, an increase of 10% or $54,699 compared to last year. The current median sold price is 14% higher 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
117
Current Contracts
82
Sold Vs. List Price
97.1%
Months of Supply
5.0
Down -17%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -1.2%
Vs. Year Ago
Up 64%
Vs. Year Ago

Months of Supply
In May, there was 5.0 months of supply available in Malvern, Paoli, and Berwyn, compared to 3.0 in May 2019. That is an increase of 65% 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 117 homes newly listed for sale in Malvern, Paoli, and Berwyn compared to 141 in May 2019, a decrease of 17%. There were 82 current contracts pending sale this May compared to 90 a year ago. The number of current contracts is 9% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Malvern, Paoli, and Berwyn was 97.1% of the average list price, which is 1.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 54, lower than the average last year, which was 63, a decrease of 14%.

The Long & Foster Market Minute Malvern, Paoli, and Berwyn are defined as properties listed in zip code/s 19335, 19301, 19312 and 19333.
*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.