The Long & Foster Market Minute

Focus On: Malvern, Paoli, and Berwyn Housing Market October 2018

Zip Code(s): 19355, 19301, 19312 and 19333
Units Sold
62
Active Inventory
309
Median Sale Price
$527,500
Days On Market
46
Down -18%
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 7%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 62 sold this month in Malvern, Paoli, and Berwyn Real Estate versus 80 last month, a decrease of 23%. This month's total units sold was lower than at this time last year, a decrease of 18% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 56 units or 15%. The total number of active inventory this October was 309 compared to 365 in October 2017. This month's total of 309 is lower than the previous month's total supply of available inventory of 341, a decrease of 9%.

Median Sale Price
Last October, the median sale price for Malvern, Paoli, and Berwyn Homes was $544,375. This October, the median sale price was $527,500, a decrease of 3% or $16,875 compared to last year. The current median sold price is 2% 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
78
Current Contracts
63
Sold Vs. List Price
100.6%
Months of Supply
5.0
Down -24%
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 2.5%
Vs. Year Ago
Up 4%
Vs. Year Ago

Months of Supply
In October, there was 5.0 months of supply available in Malvern, Paoli, and Berwyn, compared to 4.8 in October 2017. That is an increase 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.

New Listings & Current Contracts
This month there were 78 homes newly listed for sale in Malvern, Paoli, and Berwyn compared to 103 in October 2017, a decrease of 24%. There were 63 current contracts pending sale this October compared to 102 a year ago. The number of current contracts is 38% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Malvern, Paoli, and Berwyn was 100.6% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 46, higher than the average last year, which was 43, an increase of 7%.

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.