The Long & Foster Market Minute

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

Zip Code(s): 19073 and 19342
Units Sold
57
Active Inventory
195
Median Sale Price
$443,900
Days On Market
62
Up 8%
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 35%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 57 sold this month in Newtown Square and Glen Mills Real Estate versus 76 last month, a decrease of 25%. This month's total units sold was higher than at this time last year, an increase of 8% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 47 units or 19%. The total number of active inventory this July was 195 compared to 242 in July 2018. This month's total of 195 is lower than the previous month's total supply of available inventory of 209, a decrease of 7%.

Median Sale Price
Last July, the median sale price for Newtown Square and Glen Mills Homes was $465,000. This July, the median sale price was $443,900, a decrease of 5% or $21,100 compared to last year. The current median sold price is 12% lower than in June.

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


New Listings
59
Current Contracts
39
Sold Vs. List Price
98.2%
Months of Supply
3.4
Down -3%
Vs. Year Ago
Down -11%
Vs. Year Ago
No Change
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In July, there was 3.4 months of supply available in Newtown Square and Glen Mills, compared to 4.6 in July 2018. That is a decrease 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.

New Listings & Current Contracts
This month there were 59 homes newly listed for sale in Newtown Square and Glen Mills compared to 61 in July 2018, a decrease of 3%. There were 39 current contracts pending sale this July compared to 44 a year ago. The number of current contracts is 11% lower than last July.

Sale Price to List Price Ratio
In July, the average sale price in Newtown Square and Glen Mills was 98.2% 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 62, higher than the average last year, which was 46, an increase of 35%.

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.