The Long & Foster Market Minute

Focus On: Newtown Square and Glen Mills Housing Market October 2021

Zip Code(s): 19073 and 19342
Units Sold
52
Active Inventory
54
Median Sale Price
$535,000
Days On Market
18
Down -22%
Vs. Year Ago
Down -55%
Vs. Year Ago
Up 21%
Vs. Year Ago
Down -61%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 52 sold this month in Newtown Square and Glen Mills Real Estate versus 61 last month, a decrease of 15%. This month's total units sold was lower than at this time last year, a decrease of 22% versus October 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 67 units or 55%. The total number of active inventory this October was 54 compared to 121 in October 2020. This month's total of 54 is lower than the previous month's total supply of available inventory of 74, a decrease of 27%.

Median Sale Price
Last October, the median sale price for Newtown Square and Glen Mills Homes was $443,000. This October, the median sale price was $535,000, an increase of 21% or $92,000 compared to last year. The current median sold price is 6% higher 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
54
Current Contracts
60
Sold Vs. List Price
100.2%
Months of Supply
1.0
Down -35%
Vs. Year Ago
Down -5%
Vs. Year Ago
No Change
Vs. Year Ago
Down -43%
Vs. Year Ago

Months of Supply
In October, there was 1.0 months of supply available in Newtown Square and Glen Mills, compared to 1.8 in October 2020. That is a decrease of 42% 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 54 homes newly listed for sale in Newtown Square and Glen Mills compared to 83 in October 2020, a decrease of 35%. There were 60 current contracts pending sale this October compared to 63 a year ago. The number of current contracts is 5% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Newtown Square and Glen Mills was 100.2% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 46, a decrease of 61%.

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.