The Long & Foster Market Minute

Focus On: Audubon, East Norriton, and West Norriton Housing Market August 2022

Zip Code(s): 19403 and 19456
Units Sold
40
Active Inventory
72
Median Sale Price
$347,500
Days On Market
16
Down
Vs. Year Ago
No Change
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 23%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 40 sold this month in Audubon, East Norriton, and West Norriton Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
The total number of homes available this month is 72 units, which is similar compared to a year ago. This month's total of 72 is lower than the previous month's total supply of available inventory of 89, a decrease of 19%.

Median Sale Price
Last August, the median sale price for Audubon, East Norriton, and West Norriton Homes was $375,000. This August, the median sale price was $347,500, a decrease of 7% or $27,500 compared to last year. The current median sold price is 9% lower than in July.

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


New Listings
60
Current Contracts
52
Sold Vs. List Price
102.5%
Months of Supply
1.8
Down -14%
Vs. Year Ago
Down -25%
Vs. Year Ago
Down -1.5%
Vs. Year Ago
Up 91%
Vs. Year Ago

Months of Supply
In August, there was 1.8 months of supply available in Audubon, East Norriton, and West Norriton, compared to 0.9 in August 2021. That is an increase of 93% 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 60 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 70 in August 2021, a decrease of 14%. There were 52 current contracts pending sale this August compared to 69 a year ago. The number of current contracts is 25% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Audubon, East Norriton, and West Norriton was 102.5% of the average list price, which is 1.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 16, higher than the average last year, which was 13, an increase of 23%.

The Long & Foster Market Minute Audubon, East Norriton, and West Norriton are defined as properties listed in zip code/s 19403 and 19456.
*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.