The Long & Foster Market Minute

Focus On: Wayne Housing Market November 2020

Zip Code(s): 19087
Units Sold
44
Active Inventory
65
Median Sale Price
$565,500
Days On Market
23
Down -10%
Vs. Year Ago
Down -39%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 44 sold this month in Wayne Real Estate versus 58 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 10% versus November 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 42 units or 39%. The total number of active inventory this November was 65 compared to 107 in November 2019. This month's total of 65 is lower than the previous month's total supply of available inventory of 76, a decrease of 14%.

Median Sale Price
Last November, the median sale price for Wayne Homes was $475,000. This November, the median sale price was $565,500, an increase of 19% or $90,500 compared to last year. The current median sold price is 10% higher than in October.

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


New Listings
40
Current Contracts
38
Sold Vs. List Price
99.8%
Months of Supply
1.5
Up 8%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In November, there was 1.5 months of supply available in Wayne, compared to 2.2 in November 2019. That is a decrease of 32% 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 40 homes newly listed for sale in Wayne compared to 37 in November 2019, an increase of 8%. There were 38 current contracts pending sale this November compared to 42 a year ago. The number of current contracts is 10% lower than last November.

Sale Price to List Price Ratio
In November, the average sale price in Wayne was 99.8% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 34, a decrease of 32%.

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.