The Long & Foster Market Minute

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

Zip Code(s): 19403 and 19456
Units Sold
30
Active Inventory
89
Median Sale Price
$295,000
Days On Market
44
Down
Vs. Year Ago
Down -44%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 33%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in June, with 30 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, a decrease from June 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 71 units or 44%. The total number of active inventory this June was 89 compared to 160 in June 2019. This month's total of 89 is lower than the previous month's total supply of available inventory of 108, a decrease of 18%.

Median Sale Price
Last June, the median sale price for Audubon, East Norriton, and West Norriton Homes was $269,999. This June, the median sale price was $295,000, an increase of 9% or $25,001 compared to last year. The current median sold price is 2% lower 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
88
Current Contracts
105
Sold Vs. List Price
99.7%
Months of Supply
3.0
Up 10%
Vs. Year Ago
Up 57%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Up 39%
Vs. Year Ago

Months of Supply
In June, there was 3.0 months of supply available in Audubon, East Norriton, and West Norriton, compared to 2.1 in June 2019. That is an increase of 39% 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 88 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 80 in June 2019, an increase of 10%. There were 105 current contracts pending sale this June compared to 67 a year ago. The number of current contracts is 57% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Audubon, East Norriton, and West Norriton was 99.7% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 44, higher than the average last year, which was 33, an increase of 33%.

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.