The Long & Foster Market Minute

Focus On: Newtown Square and Glen Mills Housing Market December 2018

Zip Code(s): 19073 and 19342
Units Sold
35
Active Inventory
166
Median Sale Price
$460,000
Days On Market
30
Down -22%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -42%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 35 sold this month in Newtown Square and Glen Mills Real Estate versus 49 last month, a decrease of 29%. This month's total units sold was lower than at this time last year, a decrease of 22% versus December 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 22 units or 12%. The total number of active inventory this December was 166 compared to 188 in December 2017. This month's total of 166 is lower than the previous month's total supply of available inventory of 198, a decrease of 16%.

Median Sale Price
Last December, the median sale price for Newtown Square and Glen Mills Homes was $475,000. This December, the median sale price was $460,000, a decrease of 3% or $15,000 compared to last year. The current median sold price is 18% higher than in November.

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


New Listings
24
Current Contracts
27
Sold Vs. List Price
98.7%
Months of Supply
4.7
Up 4%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 4.1%
Vs. Year Ago
Up 13%
Vs. Year Ago

Months of Supply
In December, there was 4.7 months of supply available in Newtown Square and Glen Mills, compared to 4.2 in December 2017. That is an increase of 14% 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 24 homes newly listed for sale in Newtown Square and Glen Mills compared to 23 in December 2017, an increase of 4%. There were 27 current contracts pending sale this December compared to 33 a year ago. The number of current contracts is 18% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Newtown Square and Glen Mills was 98.7% of the average list price, which is 3.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 30, lower than the average last year, which was 52, a decrease of 42%.

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.