The Long & Foster Market Minute
Focus On: Newtown Square and Glen Mills Housing Market July 2017
Zip Code(s): 19073 and 19342
Units Sold
52
Active Inventory
263
Median Sale Price
$396,495
Days On Market
55
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -2%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 2%
Vs. Year Ago
No Change
Vs. Year Ago
Units Sold
There was a decrease in total units sold in July, with 52 sold this month in Newtown Square and Glen Mills Real Estate versus 74 last month, a decrease of 30%. This month's total units sold was lower than at this time last year, a decrease of 2% versus July 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 34 units or 11%. The total number of active inventory this July was 263 compared to 297 in July 2016. This month's total of 263 is lower than the previous month's total supply of available inventory of 272, a decrease of 3%.

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Median Sale Price
Last July, the median sale price for Newtown Square and Glen Mills Homes was $389,000. This July, the median sale price was $396,495, an increase of 2% or $7,495 compared to last year. The current median sold price is 3% lower than in June.

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
52
Current Contracts
25
Sold Vs. List Price
96.8%
Months of Supply
5.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 2%
Vs. Year Ago
Down -38%
Vs. Year Ago
No Change
Vs. Year Ago
Down -10%
Vs. Year Ago
Months of Supply
In July, there was 5.1 months of supply available in Newtown Square and Glen Mills, compared to 5.6 in July 2016. That is a decrease of 10% 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 52 homes newly listed for sale in Newtown Square and Glen Mills compared to 51 in July 2016, an increase of 2%. There were 25 current contracts pending sale this July compared to 40 a year ago. The number of current contracts is 38% lower than last July.

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Sale Price to List Price Ratio
In July, the average sale price in Newtown Square and Glen Mills was 96.8% of the average list price, which is similar compared to a year ago.

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

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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.