The Long & Foster Market Minute

Focus On: Newtown Square and Glen Mills Housing Market September 2019

Zip Code(s): 19073 and 19342
Units Sold
35
Active Inventory
189
Median Sale Price
$392,500
Days On Market
49
Down -8%
Vs. Year Ago
Down -20%
Vs. Year Ago
Down
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 35 sold this month in Newtown Square and Glen Mills Real Estate versus 52 last month, a decrease of 33%. This month's total units sold was lower than at this time last year, a decrease of 8% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 48 units or 20%. The total number of active inventory this September was 189 compared to 237 in September 2018. This month's total of 189 is lower than the previous month's total supply of available inventory of 191, a decrease of 1%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last September, the median sale price for Newtown Square and Glen Mills Homes was $590,000. This September, the median sale price was $392,500, a decrease of $197,500 compared to last year. The current median sold price is lower than in August.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
75
Current Contracts
44
Sold Vs. List Price
95.7%
Months of Supply
5.4
Up 1%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -3.8%
Vs. Year Ago
Down -13%
Vs. Year Ago

Months of Supply
In September, there was 5.4 months of supply available in Newtown Square and Glen Mills, compared to 6.2 in September 2018. That is a decrease of 13% 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 75 homes newly listed for sale in Newtown Square and Glen Mills compared to 74 in September 2018, an increase of 1%. There were 44 current contracts pending sale this September compared to 39 a year ago. The number of current contracts is 13% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Newtown Square and Glen Mills was 95.7% of the average list price, which is 3.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 49, lower than the average last year, which was 58, a decrease of 16%.

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.