The Long & Foster Market Minute

Focus On: Wayne Housing Market February 2019

Zip Code(s): 19087
Units Sold
18
Active Inventory
79
Median Sale Price
$497,250
Days On Market
88
Down -10%
Vs. Year Ago
Down -34%
Vs. Year Ago
Up
Vs. Year Ago
Up 44%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 18 sold this month in Wayne Real Estate versus 22 last month, a decrease of 18%. This month's total units sold was lower than at this time last year, a decrease of 10% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 41 units or 34%. The total number of active inventory this February was 79 compared to 120 in February 2018. This month's total of 79 is higher than the previous month's total supply of available inventory of 68, an increase of 16%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Wayne Homes was $488,750. This February, the median sale price was $497,250, an increase of $8,500 compared to last year. The current median sold price is higher than in January.

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


New Listings
49
Current Contracts
28
Sold Vs. List Price
97.4%
Months of Supply
4.4
Down -11%
Vs. Year Ago
Down -18%
Vs. Year Ago
Down -0.5%
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In February, there was 4.4 months of supply available in Wayne, compared to 6.0 in February 2018. That is a decrease of 27% 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 49 homes newly listed for sale in Wayne compared to 55 in February 2018, a decrease of 11%. There were 28 current contracts pending sale this February compared to 34 a year ago. The number of current contracts is 18% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Wayne was 97.4% of the average list price, which is 0.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 88, higher than the average last year, which was 61, an increase of 44%.

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.