The Long & Foster Market Minute

Focus On: Malvern, Paoli, and Berwyn Housing Market October 2017

Zip Code(s): 19355, 19301, 19312 and 19333
Units Sold
70
Active Inventory
347
Median Sale Price
$580,000
Days On Market
64
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 25%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 10%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 70 sold this month in Malvern, Paoli, and Berwyn Real Estate versus 74 last month, a decrease of 5%. This month's total units sold was higher than at this time last year, an increase of 25% versus October 2016.

Click here to compare the units sold of this area against other locations.
Active Inventory
Versus last year, the total number of homes available this month is higher by 4 units or 1%. The total number of active inventory this October was 347 compared to 343 in October 2016. This month's total of 347 is lower than the previous month's total supply of available inventory of 375, a decrease of 7%.

Click here to compare the active inventory of this area against other locations.
Median Sale Price
Last October, the median sale price for Malvern, Paoli, and Berwyn Homes was $550,000. This October, the median sale price was $580,000, an increase of 5% or $30,000 compared to last year. The current median sold price is 21% 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.

Click here to compare the median sale price of this area against other locations.

New Listings
96
Current Contracts
80
Sold Vs. List Price
97.5%
Months of Supply
5.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 16%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -1.6%
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In October, there was 5.0 months of supply available in Malvern, Paoli, and Berwyn, compared to 6.1 in October 2016. That is a decrease of 19% 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.

Click here to compare the months of supply of this area against other locations.
New Listings & Current Contracts
This month there were 96 homes newly listed for sale in Malvern, Paoli, and Berwyn compared to 83 in October 2016, an increase of 16%. There were 80 current contracts pending sale this October compared to 71 a year ago. The number of current contracts is 13% higher than last October.

Click here to compare the new listings of this area against other locations.

Click here to compare the current contracts of this area against other locations.
Sale Price to List Price Ratio
In October, the average sale price in Malvern, Paoli, and Berwyn was 97.5% of the average list price, which is 1.6% lower than at this time last year.

Click here to compare the sale price to list price ratio of this area against other locations.
Days on Market
This month, the average number of days on market was 64, higher than the average last year, which was 58, an increase of 10%.

Click here to compare the days on market of this area against other locations.
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 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.