The Long & Foster Market Minute

Focus On: Wayne Housing Market October 2019

Zip Code(s): 19087
Units Sold
45
Active Inventory
115
Median Sale Price
$432,000
Days On Market
30
Up 10%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -24%
Vs. Year Ago
Down -41%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 45 sold this month in Wayne Real Estate versus 41 last month, an increase of 10%. This month's total units sold was higher than at this time last year, an increase of 10% versus October 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 4 units or 4%. The total number of active inventory this October was 115 compared to 111 in October 2018. This month's total of 115 is lower than the previous month's total supply of available inventory of 120, a decrease of 4%.

Median Sale Price
Last October, the median sale price for Wayne Homes was $568,750. This October, the median sale price was $432,000, a decrease of 24% or $136,750 compared to last year. The current median sold price is 10% 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
68
Current Contracts
56
Sold Vs. List Price
98.6%
Months of Supply
2.6
Up 24%
Vs. Year Ago
Up 33%
Vs. Year Ago
Up 2.4%
Vs. Year Ago
Down -6%
Vs. Year Ago

Months of Supply
In October, there was 2.6 months of supply available in Wayne, compared to 2.7 in October 2018. That is a decrease of 6% 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 68 homes newly listed for sale in Wayne compared to 55 in October 2018, an increase of 24%. There were 56 current contracts pending sale this October compared to 42 a year ago. The number of current contracts is 33% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Wayne was 98.6% of the average list price, which is 2.3% 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 51, a decrease of 41%.

The Long & Foster Market Minute Wayne are defined as properties listed in zip code/s 19087.
*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.