The Long & Foster Market Minute

Focus On: Collegeville Housing Market July 2019

Zip Code(s): 19426 and 19453
Units Sold
74
Active Inventory
140
Median Sale Price
$351,500
Days On Market
45
Down -1%
Vs. Year Ago
Down -16%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 41%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 74 sold this month in Collegeville Real Estate versus 85 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 1% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 27 units or 16%. The total number of active inventory this July was 140 compared to 167 in July 2018. This month's total of 140 is lower than the previous month's total supply of available inventory of 158, a decrease of 11%.

Median Sale Price
Last July, the median sale price for Collegeville Homes was $397,000. This July, the median sale price was $351,500, a decrease of 11% or $45,500 compared to last year. The current median sold price is 7% lower 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
48
Current Contracts
52
Sold Vs. List Price
98.1%
Months of Supply
1.9
Down -33%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In July, there was 1.9 months of supply available in Collegeville, compared to 2.2 in July 2018. That is a decrease of 15% 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 48 homes newly listed for sale in Collegeville compared to 72 in July 2018, a decrease of 33%. There were 52 current contracts pending sale this July compared to 48 a year ago. The number of current contracts is 8% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Collegeville was 98.1% of the average list price, which is 1.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 45, higher than the average last year, which was 32, an increase of 41%.

The Long & Foster Market Minute Collegeville are defined as properties listed in zip code/s 19426 and 19453.
*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.