The Long & Foster Market Minute

Focus On: Audubon, East Norriton, and West Norriton Housing Market February 2020

Zip Code(s): 19403 and 19456
Units Sold
30
Active Inventory
97
Median Sale Price
$269,000
Days On Market
38
Up 11%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up
Vs. Year Ago
Down -24%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 30 sold this month in Audubon, East Norriton, and West Norriton Real Estate versus 38 last month, a decrease of 21%. This month's total units sold was higher than at this time last year, an increase of 11% versus February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 13%. The total number of active inventory this February was 97 compared to 112 in February 2019. This month's total of 97 is higher than the previous month's total supply of available inventory of 90, an increase of 8%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Audubon, East Norriton, and West Norriton Homes was $212,500. This February, the median sale price was $269,000, an increase of $56,500 compared to last year. The current median sold price is lower than in January.

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


New Listings
69
Current Contracts
49
Sold Vs. List Price
98.0%
Months of Supply
3.2
Up 6%
Vs. Year Ago
Down -14%
Vs. Year Ago
Down -2.6%
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In February, there was 3.2 months of supply available in Audubon, East Norriton, and West Norriton, compared to 4.1 in February 2019. That is a decrease of 22% 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 69 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 65 in February 2019, an increase of 6%. There were 49 current contracts pending sale this February compared to 57 a year ago. The number of current contracts is 14% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Audubon, East Norriton, and West Norriton was 98.0% of the average list price, which is 2.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 38, lower than the average last year, which was 50, a decrease of 24%.

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.