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| Focus On: Newtown Square and Glen Mills Housing Market | October 2023 | ||
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| Zip Code(s): 19073 and 19342 | |||
| Units Sold 28 |
Active Inventory 69 |
Median Sale Price $621,500 |
Days On Market 16 |
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| Down Vs. Year Ago |
Up 25% Vs. Year Ago |
Up Vs. Year Ago |
Down -11% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was a decrease in total units sold in October, with 28 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 October 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 14 units or 25%. The total number of active inventory this October was 69 compared to 55 in October 2022. This month's total of 69 is higher than the previous month's total supply of available inventory of 67, an increase of 3%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last October, the median sale price for Newtown Square and Glen Mills Homes was $475,500. This October, the median sale price was $621,500, an increase of $146,000 compared to last year. The current median sold price is 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. |
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| New Listings 41 |
Current Contracts 32 |
Sold Vs. List Price 103.5% |
Months of Supply 2.5 |
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| Down -16% Vs. Year Ago |
Down -24% Vs. Year Ago |
Down -1.2% Vs. Year Ago |
Up 52% Vs. Year Ago |
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Months of Supply
In October, there was 2.5 months of supply available in Newtown Square and Glen Mills, compared to 1.6 in October 2022. That is an increase of 52% 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. |
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New Listings & Current Contracts
This month there were 41 homes newly listed for sale in Newtown Square and Glen Mills compared to 49 in October 2022, a decrease of 16%. There were 32 current contracts pending sale this October compared to 42 a year ago. The number of current contracts is 24% lower than last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Newtown Square and Glen Mills was 103.5% of the average list price, which is 1.2% lower than at this time last year. Days on Market
This month, the average number of days on market was 16, lower than the average last year, which was 18, a decrease of 11%. | |||
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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. | |||
 Information 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. |
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