Norristown, Audubon, and Eagleville Housing Market Data

With relatively few transactions, there was a decrease in total units sold in February, with 13 sold this month in Norristown, Audubon, and Eagleville Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2022.

Versus last year, the total number of homes available this month is lower by 36 units or 47%. The total number of active inventory this February was 40 compared to 76 in February 2022. This month's total of 40 is lower than the previous month's total supply of available inventory of 46, a decrease of 13%.

Last February, the median sale price for Norristown, Audubon, and Eagleville Homes was $176,750. This February, the median sale price was $215,000, an increase of 22% or $38,250 compared to last year. The current median sold price is 8% higher than in January.

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

In February, there was 3.1 months of supply available in Norristown, Audubon, and Eagleville, compared to 2.2 in February 2022. That is an increase of 38% 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.

This month there were 35 homes newly listed for sale in Norristown, Audubon, and Eagleville compared to 61 in February 2022, a decrease of 43%. There were 36 current contracts pending sale this February compared to 38 a year ago. The number of current contracts is 5% lower than last February.

In February, the average sale price in Norristown, Audubon, and Eagleville was 99.8% of the average list price, which is 0.7% lower than at this time last year.

This month, the average number of days on market was 20, lower than the average last year, which was 69. This decrease was impacted by the limited number of sales.





Focus On: Norristown, Audubon, and Eagleville Housing Market			February 2023

Zip Code(s): 19401
Units Sold 13	Active Inventory 40	Median Sale Price $215,000	Days On Market 20

Down Vs. Year Ago	Down -47% Vs. Year Ago	Up 22% Vs. Year Ago	Down Vs. Year Ago


		Units Sold With relatively few transactions, there was a decrease in total units sold in February, with 13 sold this month in Norristown, Audubon, and Eagleville Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2022.
Active Inventory Versus last year, the total number of homes available this month is lower by 36 units or 47%. The total number of active inventory this February was 40 compared to 76 in February 2022. This month's total of 40 is lower than the previous month's total supply of available inventory of 46, a decrease of 13%.
		Median Sale Price Last February, the median sale price for Norristown, Audubon, and Eagleville Homes was $176,750. This February, the median sale price was $215,000, an increase of 22% or $38,250 compared to last year. The current median sold price is 8% higher than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 35	Current Contracts 36	Sold Vs. List Price 99.8%	Months of Supply 3.1

Down -43% Vs. Year Ago	Down -5% Vs. Year Ago	Down -0.7% Vs. Year Ago	Up 38% Vs. Year Ago


		Months of Supply In February, there was 3.1 months of supply available in Norristown, Audubon, and Eagleville, compared to 2.2 in February 2022. That is an increase of 38% 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 35 homes newly listed for sale in Norristown, Audubon, and Eagleville compared to 61 in February 2022, a decrease of 43%. There were 36 current contracts pending sale this February compared to 38 a year ago. The number of current contracts is 5% lower than last February.
		Sale Price to List Price Ratio In February, the average sale price in Norristown, Audubon, and Eagleville was 99.8% of the average list price, which is 0.7% lower than at this time last year. Days on Market This month, the average number of days on market was 20, lower than the average last year, which was 69. This decrease was impacted by the limited number of sales.


	Norristown, Audubon, and Eagleville are defined as properties listed in zip code/s 19401.
	*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.