The Long & Foster Market Minute

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

Zip Code(s): 19355, 19301, 19312 and 19333
Units Sold
70
Active Inventory
266
Median Sale Price
$521,112
Days On Market
37
Up 13%
Vs. Year Ago
Down -20%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 70 sold this month in Malvern, Paoli, and Berwyn Real Estate versus 75 last month, a decrease of 7%. This month's total units sold was higher than at this time last year, an increase of 13% versus October 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 65 units or 20%. The total number of active inventory this October was 266 compared to 331 in October 2018. This month's total of 266 is lower than the previous month's total supply of available inventory of 301, a decrease of 12%.

Median Sale Price
Last October, the median sale price for Malvern, Paoli, and Berwyn Homes was $527,500. This October, the median sale price was $521,112, a decrease of 1% or $6,388 compared to last year. The current median sold price is 3% lower than in September.

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


New Listings
128
Current Contracts
106
Sold Vs. List Price
97.5%
Months of Supply
3.8
Up 66%
Vs. Year Ago
Up 71%
Vs. Year Ago
Down -3.1%
Vs. Year Ago
Down -29%
Vs. Year Ago

Months of Supply
In October, there was 3.8 months of supply available in Malvern, Paoli, and Berwyn, compared to 5.3 in October 2018. That is a decrease of 29% 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 128 homes newly listed for sale in Malvern, Paoli, and Berwyn compared to 77 in October 2018, an increase of 66%. There were 106 current contracts pending sale this October compared to 62 a year ago. The number of current contracts is 71% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Malvern, Paoli, and Berwyn was 97.5% of the average list price, which is 3.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 37, lower than the average last year, which was 46, a decrease of 20%.

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.