The Long & Foster Market Minute

Focus On: Malvern, Paoli, and Berwyn Housing Market June 2019

Zip Code(s): 19355, 19301, 19312 and 19333
Units Sold
117
Active Inventory
256
Median Sale Price
$547,450
Days On Market
57
Down -12%
Vs. Year Ago
Down -35%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 50%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 117 sold this month in Malvern, Paoli, and Berwyn Real Estate versus 94 last month, an increase of 24%. This month's total units sold was lower than at this time last year, a decrease of 12% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 137 units or 35%. The total number of active inventory this June was 256 compared to 393 in June 2018. This month's total of 256 is lower than the previous month's total supply of available inventory of 284, a decrease of 10%.

Median Sale Price
Last June, the median sale price for Malvern, Paoli, and Berwyn Homes was $544,350. This June, the median sale price was $547,450, an increase of 1% or $3,100 compared to last year. The current median sold price is 2% higher 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
114
Current Contracts
92
Sold Vs. List Price
99.8%
Months of Supply
2.2
Down -11%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In June, there was 2.2 months of supply available in Malvern, Paoli, and Berwyn, compared to 3.0 in June 2018. That is a decrease of 26% 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 114 homes newly listed for sale in Malvern, Paoli, and Berwyn compared to 128 in June 2018, a decrease of 11%. There were 92 current contracts pending sale this June compared to 80 a year ago. The number of current contracts remained stable as compared to last June.

Sale Price to List Price Ratio
In June, the average sale price in Malvern, Paoli, and Berwyn was 99.8% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 57, higher than the average last year, which was 38, an increase of 50%.

The Long & Foster Market Minute Malvern, Paoli, and Berwyn are defined as properties listed in zip code/s 19335, 19301, 19312 and 19333.
*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.