The Long & Foster Market Minute

Focus On: Newtown Square and Glen Mills Housing Market October 2017

Zip Code(s): 19073 and 19342
Units Sold
55
Active Inventory
263
Median Sale Price
$358,500
Days On Market
57
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -18%
Vs. Year Ago
Down -45%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 55 sold this month in Newtown Square and Glen Mills Real Estate. This month's total units sold was higher than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 7%. The total number of active inventory this October was 263 compared to 283 in October 2016. This month's total of 263 is higher than the previous month's total supply of available inventory of 260, an increase of 1%.

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Median Sale Price
Last October, the median sale price for Newtown Square and Glen Mills Homes was $435,100. This October, the median sale price was $358,500, a decrease of 18% or $76,600 compared to last year. The current median sold price is 21% lower 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.

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New Listings
66
Current Contracts
39
Sold Vs. List Price
95.8%
Months of Supply
4.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -4%
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -2.5%
Vs. Year Ago
Down -36%
Vs. Year Ago

Months of Supply
In October, there was 4.8 months of supply available in Newtown Square and Glen Mills, compared to 7.4 in October 2016. That is a decrease of 36% 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.

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New Listings & Current Contracts
This month there were 66 homes newly listed for sale in Newtown Square and Glen Mills compared to 69 in October 2016, a decrease of 4%. There were 39 current contracts pending sale this October compared to 46 a year ago. The number of current contracts is 15% lower than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Newtown Square and Glen Mills was 95.8% of the average list price, which is 2.4% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 57, lower than the average last year, which was 103, a decrease of 45%.

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The Long & Foster Market Minute Newtown Square and Glen Mills are defined as properties listed in zip code/s 19073 and 19342.
*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.