The Long & Foster Market Minute

Focus On: Wayne Housing Market April 2019

Zip Code(s): 19087
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -21%
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 48%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 26 sold this month in Wayne Real Estate versus 28 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 21% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 13%. The total number of active inventory this April was 112 compared to 129 in April 2018. This month's total of 112 is higher than the previous month's total supply of available inventory of 104, an increase of 8%.

Median Sale Price
Last April, the median sale price for Wayne Homes was $545,000. This April, the median sale price was $447,500, a decrease of 18% or $97,500 compared to last year. The current median sold price is 12% higher than in March.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 4%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Up 10%
Vs. Year Ago

Months of Supply
In April, there was 4.3 months of supply available in Wayne, compared to 3.9 in April 2018. That is an increase of 10% 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 85 homes newly listed for sale in Wayne compared to 82 in April 2018, an increase of 4%. There were 58 current contracts pending sale this April compared to 62 a year ago. The number of current contracts is 6% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Wayne was 97.8% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 68, higher than the average last year, which was 46, an increase of 48%.

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.