The Long & Foster Market Minute

Focus On: Wayne Housing Market October 2018

Zip Code(s): 19087
Units Sold
41
Active Inventory
106
Median Sale Price
$568,750
Days On Market
51
Up 64%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 27%
Vs. Year Ago

Units Sold
The number of units sold remained stable in October, with 41 sold this month in Wayne Real Estate. This month's total units sold was higher than at this time last year, an increase of 0% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 52 units or 33%. The total number of active inventory this October was 106 compared to 158 in October 2017. This month's total of 106 is lower than the previous month's total supply of available inventory of 109, a decrease of 3%.

Median Sale Price
Last October, the median sale price for Wayne Homes was $530,000. This October, the median sale price was $568,750, an increase of 7% or $38,750 compared to last year. The current median sold price is 5% higher than in September.

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


New Listings
54
Current Contracts
42
Sold Vs. List Price
96.3%
Months of Supply
2.6
No Change
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -59%
Vs. Year Ago

Months of Supply
In October, there was 2.6 months of supply available in Wayne, compared to 6.3 in October 2017. That is a decrease of 59% 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 54 homes newly listed for sale in Wayne, which is similar to the amount in October 2017. There were 42 current contracts pending sale this October compared to 45 a year ago. The number of current contracts is 7% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Wayne was 96.3% 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 51, higher than the average last year, which was 40, an increase of 28%.

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.