The Long & Foster Market Minute

Focus On: Newtown Square and Glen Mills Housing Market October 2018

Zip Code(s): 19073 and 19342
Units Sold
41
Active Inventory
210
Median Sale Price
$502,555
Days On Market
52
Down -29%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up
Vs. Year Ago
Down -21%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 41 sold this month in Newtown Square and Glen Mills Real Estate versus 38 last month, an increase of 8%. This month's total units sold was lower than at this time last year, a decrease of 29% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 57 units or 21%. The total number of active inventory this October was 210 compared to 267 in October 2017. This month's total of 210 is lower than the previous month's total supply of available inventory of 225, a decrease of 7%.

Median Sale Price
Last October, the median sale price for Newtown Square and Glen Mills Homes was $366,750. This October, the median sale price was $502,555, an increase of $135,805 compared to last year. The current median sold price is 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.


New Listings
59
Current Contracts
43
Sold Vs. List Price
101.4%
Months of Supply
5.1
Down -14%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 4.3%
Vs. Year Ago
Up 11%
Vs. Year Ago

Months of Supply
In October, there was 5.1 months of supply available in Newtown Square and Glen Mills, compared to 4.6 in October 2017. That is an increase of 11% 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 59 homes newly listed for sale in Newtown Square and Glen Mills compared to 69 in October 2017, a decrease of 14%. There were 43 current contracts pending sale this October compared to 46 a year ago. The number of current contracts is 7% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Newtown Square and Glen Mills was 101.4% of the average list price, which is 4.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 52, lower than the average last year, which was 66, a decrease of 21%.

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 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.