The Long & Foster Market Minute

Focus On: Audubon, East Norriton, and West Norriton Housing Market March 2019

Zip Code(s): 19403 and 19456
Units Sold
41
Active Inventory
118
Median Sale Price
$253,750
Days On Market
75
Down -7%
Vs. Year Ago
Down -21%
Vs. Year Ago
No Change
Vs. Year Ago
Up 60%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 41 sold this month in Audubon, East Norriton, and West Norriton Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 32 units or 21%. The total number of active inventory this March was 118 compared to 150 in March 2018. This month's total of 118 is higher than the previous month's total supply of available inventory of 117, an increase of 1%.

Median Sale Price
Last March, the median sale price for Audubon, East Norriton, and West Norriton Homes was $252,500. This March, the median sale price was $253,750, which is similar compared to a year ago. The current median sold price is 27% higher than in February.

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


New Listings
84
Current Contracts
60
Sold Vs. List Price
97.5%
Months of Supply
2.9
Up 6%
Vs. Year Ago
Down -6%
Vs. Year Ago
No Change
Vs. Year Ago
Down -16%
Vs. Year Ago

Months of Supply
In March, there was 2.9 months of supply available in Audubon, East Norriton, and West Norriton, compared to 3.4 in March 2018. That is a decrease of 16% 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 84 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 79 in March 2018, an increase of 6%. There were 60 current contracts pending sale this March compared to 64 a year ago. The number of current contracts is 6% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Audubon, East Norriton, and West Norriton was 97.5% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 75, higher than the average last year, which was 47, an increase of 60%.

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.