The Long & Foster Market Minute

Focus On: Collegeville Housing Market October 2023

Zip Code(s): 19426 and 19453
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -31%
Vs. Year Ago
Down -48%
Vs. Year Ago
Vs. Year Ago
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 34 sold this month in Collegeville Real Estate versus 35 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 31% versus October 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 34 units or 48%. The total number of active inventory this October was 37 compared to 71 in October 2022. This month's total of 37 is lower than the previous month's total supply of available inventory of 41, a decrease of 10%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last October, the median sale price for Collegeville Homes was $451,500. This October, the median sale price was $570,000, an increase of $118,500 compared to last year. The current median sold price is 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -10%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In October, there was 1.1 months of supply available in Collegeville, compared to 1.4 in October 2022. That is a decrease of 25% 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 36 homes newly listed for sale in Collegeville compared to 40 in October 2022, a decrease of 10%. There were 35 current contracts pending sale this October compared to 28 a year ago. The number of current contracts is 25% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Collegeville was 102.8% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 13, lower than the average last year, which was 43. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Collegeville are defined as properties listed in zip code/s 19426 and 19453.
*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.