The Long & Foster Market Minute

Focus On: Newtown Square and Glen Mills Housing Market May 2020

Zip Code(s): 19073 and 19342
Units Sold
31
Active Inventory
161
Median Sale Price
$457,500
Days On Market
65
Down
Vs. Year Ago
Down -26%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 8%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 31 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 May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 56 units or 26%. The total number of active inventory this May was 161 compared to 217 in May 2019. This month's total of 161 is higher than the previous month's total supply of available inventory of 153, an increase of 5%.

Median Sale Price
Last May, the median sale price for Newtown Square and Glen Mills Homes was $492,500. This May, the median sale price was $457,500, a decrease of 7% or $35,000 compared to last year. The current median sold price is 1% lower than in April.

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


New Listings
77
Current Contracts
48
Sold Vs. List Price
96.1%
Months of Supply
5.2
Down -33%
Vs. Year Ago
Down -30%
Vs. Year Ago
Down -2.2%
Vs. Year Ago
Up 31%
Vs. Year Ago

Months of Supply
In May, there was 5.2 months of supply available in Newtown Square and Glen Mills, compared to 3.9 in May 2019. That is an increase of 32% 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 77 homes newly listed for sale in Newtown Square and Glen Mills compared to 115 in May 2019, a decrease of 33%. There were 48 current contracts pending sale this May compared to 69 a year ago. The number of current contracts is 30% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Newtown Square and Glen Mills was 96.1% of the average list price, which is 2.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 65, higher than the average last year, which was 60, an increase of 8%.

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.