The Long & Foster Market Minute

Focus On: Springfield, Wallingford, and Swarthmore Housing Market October 2023

Zip Code(s): 19064, 19081, 19070, 19086 and 19033
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -4%
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -26%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 48 sold this month in Springfield, Wallingford, and Swarthmore Real Estate versus 51 last month, a decrease of 6%. This month's total units sold was lower than at this time last year, a decrease of 4% versus October 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 26 units or 34%. The total number of active inventory this October was 51 compared to 77 in October 2022. This month's total of 51 is lower than the previous month's total supply of available inventory of 60, a decrease of 15%.

Median Sale Price
Last October, the median sale price for Springfield, Wallingford, and Swarthmore Homes was $360,000. This October, the median sale price was $387,500, an increase of 8% or $27,500 compared to last year. The current median sold price is 9% lower than in September.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -23%
Vs. Year Ago
Down -2%
Vs. Year Ago
No Change
Vs. Year Ago
Down -31%
Vs. Year Ago

Months of Supply
In October, there was 1.1 months of supply available in Springfield, Wallingford, and Swarthmore, compared to 1.5 in October 2022. That is a decrease of 31% 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 49 homes newly listed for sale in Springfield, Wallingford, and Swarthmore compared to 64 in October 2022, a decrease of 23%. There were 54 current contracts pending sale this October compared to 55 a year ago. The number of current contracts is 2% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Springfield, Wallingford, and Swarthmore was 100.4% 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 20, lower than the average last year, which was 27, a decrease of 26%.

The Long & Foster Market Minute Springfield, Wallingford, and Swarthmore are defined as properties listed in zip code/s 19064, 19081, 19070, 19086 and 19033.
*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.