The Long & Foster Market Minute

Focus On: Newtown Square and Glen Mills Housing Market February 2019

Zip Code(s): 19073 and 19342
Units Sold
15
Active Inventory
167
Median Sale Price
$363,000
Days On Market
60
Down
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 15 sold this month in Newtown Square and Glen Mills Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 39 units or 19%. The total number of active inventory this February was 167 compared to 206 in February 2018. This month's total of 167 is higher than the previous month's total supply of available inventory of 164, an increase of 2%.

Median Sale Price
Last February, the median sale price for Newtown Square and Glen Mills Homes was $385,000. This February, the median sale price was $363,000, a decrease of 6% or $22,000 compared to last year. The current median sold price is 6% lower than in January.

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


New Listings
61
Current Contracts
39
Sold Vs. List Price
96.0%
Months of Supply
11.1
Down -8%
Vs. Year Ago
No Change
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Up 24%
Vs. Year Ago

Months of Supply
In February, there was 11.1 months of supply available in Newtown Square and Glen Mills, compared to 9.0 in February 2018. That is an increase of 24% 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 61 homes newly listed for sale in Newtown Square and Glen Mills compared to 66 in February 2018, a decrease of 8%. There were 39 current contracts pending sale this February, consistent with the volume a year ago. The number of current contracts is 56% higher than last month.

Sale Price to List Price Ratio
In February, the average sale price in Newtown Square and Glen Mills was 96.0% 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 60, lower than the average last year, which was 88, a decrease of 32%.

The Long & Foster Market Minute Newtown Square and Glen Mills are defined as properties listed in zip code/s 19073 and 19342.
*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.