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| Focus On: Newtown Square and Glen Mills Housing Market | October 2022 | ||
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| Zip Code(s): 19073 and 19342 | |||
| Units Sold 33 |
Active Inventory 50 |
Median Sale Price $480,000 |
Days On Market 11 |
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| Down Vs. Year Ago |
Down -21% Vs. Year Ago |
Down Vs. Year Ago |
Down -39% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was a decrease in total units sold in October, with 33 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 2021. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 13 units or 21%. The total number of active inventory this October was 50 compared to 63 in October 2021. This month's total of 50 is lower than the previous month's total supply of available inventory of 55, a decrease of 9%. |
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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 $535,000. This October, the median sale price was $480,000, a decrease of $55,000 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 49 |
Current Contracts 44 |
Sold Vs. List Price 104.9% |
Months of Supply 1.5 |
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| Down -9% Vs. Year Ago |
Down -29% Vs. Year Ago |
Up 4.7% Vs. Year Ago |
Up 26% Vs. Year Ago |
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Months of Supply
In October, there was 1.5 months of supply available in Newtown Square and Glen Mills, compared to 1.2 in October 2021. That is an increase of 25% 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 49 homes newly listed for sale in Newtown Square and Glen Mills compared to 54 in October 2021, a decrease of 9%. There were 44 current contracts pending sale this October compared to 62 a year ago. The number of current contracts is 29% 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 104.9% of the average list price, which is 4.7% higher than at this time last year. Days on Market
This month, the average number of days on market was 11, lower than the average last year, which was 18, a decrease of 39%. | |||
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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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