The Long & Foster Market Minute

Focus On: Wayne Housing Market May 2018

Zip Code(s): 19087
Units Sold
40
Active Inventory
141
Median Sale Price
$455,000
Days On Market
53
Down -17%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 22%
Vs. Year Ago
Up 71%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 40 sold this month in Wayne Real Estate versus 33 last month, an increase of 21%. This month's total units sold was lower than at this time last year, a decrease of 17% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 14%. The total number of active inventory this May was 141 compared to 164 in May 2017. This month's total of 141 is higher than the previous month's total supply of available inventory of 129, an increase of 9%.

Median Sale Price
Last May, the median sale price for Wayne Homes was $373,870. This May, the median sale price was $455,000, an increase of 22% or $81,130 compared to last year. The current median sold price is 17% lower than in April.

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


New Listings
75
Current Contracts
45
Sold Vs. List Price
97.6%
Months of Supply
3.5
Down -17%
Vs. Year Ago
Down -22%
Vs. Year Ago
Down -2.4%
Vs. Year Ago
Up 3%
Vs. Year Ago

Months of Supply
In May, there was 3.5 months of supply available in Wayne, compared to 3.4 in May 2017. That is an increase of 3% 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 75 homes newly listed for sale in Wayne compared to 90 in May 2017, a decrease of 17%. There were 45 current contracts pending sale this May compared to 58 a year ago. The number of current contracts is 22% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Wayne was 97.6% of the average list price, which is 2.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 53, higher than the average last year, which was 31, an increase of 71%.

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 TREND 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 TREND or Long & Foster Real Estate, Inc.