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| Focus On: North Wales Housing Market | February 2023 | ||
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| Zip Code(s): 19454 and 18936 | |||
| Units Sold 13 |
Active Inventory 22 |
Median Sale Price $520,000 |
Days On Market 19 |
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| Down -24% Vs. Year Ago |
Up 214% Vs. Year Ago |
Up Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in February, with 13 sold this month in North Wales Real Estate versus 14 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 24% versus February 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 15 units or 214%. The total number of active inventory this February was 22 compared to 7 in February 2022. This month's total of 22 is higher than the previous month's total supply of available inventory of 17, an increase of 29%. |
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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 February, the median sale price for North Wales Homes was $393,000. This February, the median sale price was $520,000, an increase of $127,000 compared to last year. The current median sold price is 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. |
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| New Listings 24 |
Current Contracts 19 |
Sold Vs. List Price 100.5% |
Months of Supply 1.7 |
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| Down -4% Vs. Year Ago |
Down -27% Vs. Year Ago |
Down -1.2% Vs. Year Ago |
Up 312% Vs. Year Ago |
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Months of Supply
In February, there was 1.7 months of supply available in North Wales, compared to 0.4 in February 2022. That is an increase of 311% 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 24 homes newly listed for sale in North Wales compared to 25 in February 2022, a decrease of 4%. There were 19 current contracts pending sale this February compared to 26 a year ago. The number of current contracts is 27% lower than last February. |
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Sale Price to List Price Ratio
In February, the average sale price in North Wales was 100.5% of the average list price, which is 1.3% lower than at this time last year. Days on Market
This month, the average number of days on market was 19, higher than the average last year, which was 12. This increase was impacted by the limited number of sales. | |||
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North Wales are defined as properties listed in zip code/s 19454 and 18936. | ||
| *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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