The Long & Foster Market Minute

Focus On: Wayne Housing Market March 2021

Zip Code(s): 19087
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 30%
Vs. Year Ago
Down -56%
Vs. Year Ago
Vs. Year Ago
Down -21%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 52 sold this month in Wayne Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 55 units or 56%. The total number of active inventory this March was 44 compared to 99 in March 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Last March, the median sale price for Wayne Homes was $432,500. This March, the median sale price was $621,115, an increase of $188,615 compared to last year. The current median sold price is higher than in February.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 38%
Vs. Year Ago
Up 94%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -66%
Vs. Year Ago

Months of Supply
In March, there was 0.8 months of supply available in Wayne, compared to 2.5 in March 2020. That is a decrease of 66% 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 66 homes newly listed for sale in Wayne compared to 48 in March 2020, an increase of 38%. There were 62 current contracts pending sale this March compared to 32 a year ago. The number of current contracts is 94% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Wayne was 100.9% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 33, a decrease of 21%.

The Long & Foster Market Minute Wayne are defined as properties listed in zip code/s 19087.
*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.