The Long & Foster Market Minute
Focus On: Wayne Housing Market July 2017
Zip Code(s): 19087
Units Sold
50
Active Inventory
168
Median Sale Price
$540,000
Days On Market
29
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -4%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -38%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in July, with 50 sold this month in Wayne Real Estate versus 65 last month, a decrease of 23%. This month's total units sold was lower than at this time last year, a decrease of 4% versus July 2016.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 9 units or 6%. The total number of active inventory this July was 168 compared to 159 in July 2016. This month's total of 168 is higher than the previous month's total supply of available inventory of 163, an increase of 3%.

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Median Sale Price
Last July, the median sale price for Wayne Homes was $468,000. This July, the median sale price was $540,000, an increase of 15% or $72,000 compared to last year. The current median sold price is 3% higher than in June.

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

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New Listings
50
Current Contracts
26
Sold Vs. List Price
98.5%
Months of Supply
3.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 19%
Vs. Year Ago
Down -35%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Up 10%
Vs. Year Ago
Months of Supply
In July, there was 3.4 months of supply available in Wayne, compared to 3.1 in July 2016. 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.

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New Listings & Current Contracts
This month there were 50 homes newly listed for sale in Wayne compared to 42 in July 2016, an increase of 19%. There were 26 current contracts pending sale this July compared to 40 a year ago. The number of current contracts is 35% lower than last July.

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Sale Price to List Price Ratio
In July, the average sale price in Wayne was 98.5% of the average list price, which is 1.7% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 47, a decrease of 38%.

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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.