The Long & Foster Market Minute

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

Zip Code(s): 19403 and 19456
Units Sold
73
Active Inventory
153
Median Sale Price
$300,000
Days On Market
44
Down -9%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 38%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 73 sold this month in Audubon, East Norriton, and West Norriton Real Estate versus 74 last month, a decrease of 1%. This month's total units sold was lower than at this time last year, a decrease of 9% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 13 units or 8%. The total number of active inventory this July was 153 compared to 166 in July 2018. This month's total of 153 is lower than the previous month's total supply of available inventory of 159, a decrease of 4%.

Median Sale Price
Last July, the median sale price for Audubon, East Norriton, and West Norriton Homes was $295,500. This July, the median sale price was $300,000, an increase of 2% or $4,500 compared to last year. The current median sold price is 11% higher than in June.

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


New Listings
60
Current Contracts
52
Sold Vs. List Price
99.3%
Months of Supply
2.1
Down -26%
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In July, there was 2.1 months of supply available in Audubon, East Norriton, and West Norriton. 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 60 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 81 in July 2018, a decrease of 26%. There were 52 current contracts pending sale this July compared to 50 a year ago. The number of current contracts is 4% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Audubon, East Norriton, and West Norriton was 99.3% 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 44, higher than the average last year, which was 32, an increase of 38%.

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.