The Long & Foster Market Minute

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

Zip Code(s): 19073 and 19342
Units Sold
46
Active Inventory
220
Median Sale Price
$454,000
Days On Market
27
Down -4%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -56%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 46 sold this month in Newtown Square and Glen Mills Real Estate versus 54 last month, a decrease of 15%. This month's total units sold was lower than at this time last year, a decrease of 4% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 21 units or 9%. The total number of active inventory this August was 220 compared to 241 in August 2017. This month's supply remained stable as compared to last month.

Median Sale Price
Last August, the median sale price for Newtown Square and Glen Mills Homes was $407,500. This August, the median sale price was $454,000, an increase of 11% or $46,500 compared to last year. The current median sold price is 2% 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
50
Current Contracts
23
Sold Vs. List Price
95.2%
Months of Supply
4.8
Down -17%
Vs. Year Ago
Down -61%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -5%
Vs. Year Ago

Months of Supply
In August, there was 4.8 months of supply available in Newtown Square and Glen Mills, compared to 5.0 in August 2017. That is a decrease of 5% 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 50 homes newly listed for sale in Newtown Square and Glen Mills compared to 60 in August 2017, a decrease of 17%. There were 23 current contracts pending sale this August compared to 59 a year ago. The number of current contracts is 61% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Newtown Square and Glen Mills was 95.2% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 61, a decrease of 56%.

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.