The Long & Foster Market Minute

Focus On: Glenolden, Folcroft, and Norwood Housing Market August 2023

Zip Code(s): 19036, 19032 and 19074
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -46%
Vs. Year Ago
No Change
Vs. Year Ago
Up 45%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in August, with 35 sold this month in Glenolden, Folcroft, and Norwood Real Estate. This month's total units sold was lower than at this time last year, a decrease from August 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 46%. The total number of active inventory this August was 20 compared to 37 in August 2022. This month's total of 20 is lower than the previous month's total supply of available inventory of 36, a decrease of 44%.

Median Sale Price
Last August, the median sale price for Glenolden, Folcroft, and Norwood Homes was $230,000. This August, the median sale price was $230,000, which is similar compared to a year ago. The current median sold price is 1% higher than in July.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -47%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -0.5%
Vs. Year Ago
Down -28%
Vs. Year Ago

Months of Supply
In August, there was 0.6 months of supply available in Glenolden, Folcroft, and Norwood, compared to 0.8 in August 2022. That is a decrease of 27% 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 25 homes newly listed for sale in Glenolden, Folcroft, and Norwood compared to 47 in August 2022, a decrease of 47%. There were 32 current contracts pending sale this August compared to 35 a year ago. The number of current contracts is 9% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Glenolden, Folcroft, and Norwood was 101.2% of the average list price, which is 0.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 16, higher than the average last year, which was 11, an increase of 45%.

The Long & Foster Market Minute Glenolden, Folcroft, and Norwood are defined as properties listed in zip code/s 19036, 19032 and 19074.
*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.