The Long & Foster Market Minute

Focus On: Wayne Housing Market September 2019

Zip Code(s): 19087
Units Sold
39
Active Inventory
115
Median Sale Price
$478,000
Days On Market
31
Down -9%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 39 sold this month in Wayne Real Estate versus 55 last month, a decrease of 29%. This month's total units sold was lower than at this time last year, a decrease of 9% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 5 units or 5%. The total number of active inventory this September was 115 compared to 110 in September 2018. This month's total of 115 is higher than the previous month's total supply of available inventory of 112, an increase of 3%.

Median Sale Price
Last September, the median sale price for Wayne Homes was $560,000. This September, the median sale price was $478,000, a decrease of 15% or $82,000 compared to last year. The current median sold price is 1% higher 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
86
Current Contracts
54
Sold Vs. List Price
96.7%
Months of Supply
2.9
Up 56%
Vs. Year Ago
Up 20%
Vs. Year Ago
No Change
Vs. Year Ago
Up 15%
Vs. Year Ago

Months of Supply
In September, there was 2.9 months of supply available in Wayne, compared to 2.6 in September 2018. That is an increase of 15% 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 86 homes newly listed for sale in Wayne compared to 55 in September 2018, an increase of 56%. There were 54 current contracts pending sale this September compared to 45 a year ago. The number of current contracts is 20% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Wayne was 96.7% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 31, lower than the average last year, which was 36, a decrease of 14%.

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.