The Long & Foster Market Minute

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

Zip Code(s): 19355, 19301, 19312 and 19333
Units Sold
123
Active Inventory
309
Median Sale Price
$510,000
Days On Market
55
Up
Vs. Year Ago
Down -14%
Vs. Year Ago
Down -17%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 123 sold this month in Malvern, Paoli, and Berwyn Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 51 units or 14%. The total number of active inventory this August was 309 compared to 360 in August 2017. This month's total of 309 is lower than the previous month's total supply of available inventory of 342, a decrease of 10%.

Median Sale Price
Last August, the median sale price for Malvern, Paoli, and Berwyn Homes was $613,890. This August, the median sale price was $510,000, a decrease of 17% or $103,890 compared to last year. The current median sold price is 6% lower 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
107
Current Contracts
75
Sold Vs. List Price
102.1%
Months of Supply
2.5
Down -14%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 3.7%
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In August, there was 2.5 months of supply available in Malvern, Paoli, and Berwyn, compared to 4.1 in August 2017. That is a decrease of 39% 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 107 homes newly listed for sale in Malvern, Paoli, and Berwyn compared to 124 in August 2017, a decrease of 14%. There were 75 current contracts pending sale this August compared to 85 a year ago. The number of current contracts is 12% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Malvern, Paoli, and Berwyn was 102.1% of the average list price, which is 3.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 55, which is similar compared to a year ago.

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.