The Long & Foster Market Minute

Focus On: Newtown Square and Glen Mills Housing Market April 2023

Zip Code(s): 19073 and 19342
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -18%
Vs. Year Ago
Up 2%
Vs. Year Ago
Vs. Year Ago
Up 33%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 33 sold this month in Newtown Square and Glen Mills Real Estate versus 38 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 18% versus April 2022.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 2%. The total number of active inventory this April was 58 compared to 57 in April 2022. This month's supply remained stable as compared to last month.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last April, the median sale price for Newtown Square and Glen Mills Homes was $497,500. This April, the median sale price was $565,000, an increase of $67,500 compared to last year. The current median sold price is lower 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
Down -31%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 23%
Vs. Year Ago

Months of Supply
In April, there was 1.8 months of supply available in Newtown Square and Glen Mills, compared to 1.4 in April 2022. That is an increase of 23% 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 48 homes newly listed for sale in Newtown Square and Glen Mills compared to 70 in April 2022, a decrease of 31%. There were 46 current contracts pending sale this April compared to 51 a year ago. The number of current contracts is 10% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Newtown Square and Glen Mills was 99.2% of the average list price, which is 5.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 20, higher than the average last year, which was 15, an increase of 33%.

The Long & Foster Market Minute Newtown Square and Glen Mills are defined as properties listed in zip code/s 19073 and 19342.
*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.