The Long & Foster Market Minute

Focus On: Wayne Housing Market December 2019

Zip Code(s): 19087
Units Sold
32
Active Inventory
88
Median Sale Price
$537,500
Days On Market
40
Down -20%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -2%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 32 sold this month in Wayne Real Estate versus 49 last month, a decrease of 35%. This month's total units sold was lower than at this time last year, a decrease of 20% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 8 units or 10%. The total number of active inventory this December was 88 compared to 80 in December 2018. This month's total of 88 is lower than the previous month's total supply of available inventory of 109, a decrease of 19%.

Median Sale Price
Last December, the median sale price for Wayne Homes was $555,000. This December, the median sale price was $537,500, a decrease of 3% or $17,500 compared to last year. The current median sold price is 13% higher than in November.

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


New Listings
28
Current Contracts
26
Sold Vs. List Price
98.0%
Months of Supply
2.8
Up 155%
Vs. Year Ago
Up 30%
Vs. Year Ago
No Change
Vs. Year Ago
Up 38%
Vs. Year Ago

Months of Supply
In December, there was 2.8 months of supply available in Wayne, compared to 2.0 in December 2018. That is an increase of 38% 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 28 homes newly listed for sale in Wayne compared to 11 in December 2018, an increase of 155%. There were 26 current contracts pending sale this December compared to 20 a year ago. The number of current contracts is 30% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Wayne was 98.0% 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 40, lower than the average last year, which was 41, a decrease of 2%.

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.