The Long & Foster Market Minute

Focus On: Wayne Housing Market June 2022

Zip Code(s): 19087
Units Sold
64
Active Inventory
45
Median Sale Price
$729,000
Days On Market
8
Down -27%
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -43%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 64 sold this month in Wayne Real Estate versus 49 last month, an increase of 31%. This month's total units sold was lower than at this time last year, a decrease of 27% versus June 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 27%. The total number of active inventory this June was 45 compared to 62 in June 2021. This month's total of 45 is higher than the previous month's total supply of available inventory of 31, an increase of 45%.

Median Sale Price
Last June, the median sale price for Wayne Homes was $708,448. This June, the median sale price was $729,000, an increase of 3% or $20,552 compared to last year. The current median sold price is 17% higher than in May.

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


New Listings
74
Current Contracts
56
Sold Vs. List Price
105.3%
Months of Supply
0.7
Down -5%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Wayne. The amount of supply is similar compared to 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 74 homes newly listed for sale in Wayne compared to 78 in June 2021, a decrease of 5%. There were 56 current contracts pending sale this June compared to 62 a year ago. The number of current contracts is 10% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Wayne was 105.3% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 8, lower than the average last year, which was 14, a decrease of 43%.

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.