The Long & Foster Market Minute

Focus On: Wayne Housing Market August 2022

Zip Code(s): 19087
Units Sold
60
Active Inventory
42
Median Sale Price
$790,750
Days On Market
21
No Change
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 28%
Vs. Year Ago
Up 11%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 60 sold this month in Wayne Real Estate, an increase of 43%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 29%. The total number of active inventory this August was 42 compared to 59 in August 2021. This month's total of 42 is lower than the previous month's total supply of available inventory of 47, a decrease of 11%.

Median Sale Price
Last August, the median sale price for Wayne Homes was $620,000. This August, the median sale price was $790,750, an increase of $170,750 compared to last year. The current median sold price is higher 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
41
Current Contracts
43
Sold Vs. List Price
102.2%
Months of Supply
0.7
Down -13%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -29%
Vs. Year Ago

Months of Supply
In August, there was 0.7 months of supply available in Wayne, compared to 1.0 in August 2021. That is a decrease of 29% 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 41 homes newly listed for sale in Wayne compared to 47 in August 2021, a decrease of 13%. There were 43 current contracts pending sale this August compared to 49 a year ago. The number of current contracts is 12% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Wayne was 102.2% of the average list price, which is 2.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, higher than the average last year, which was 19, an increase of 11%.

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 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.