The Long & Foster Market Minute

Focus On: Wayne Housing Market May 2020

Zip Code(s): 19087
Units Sold
29
Active Inventory
95
Median Sale Price
$696,185
Days On Market
36
Down
Vs. Year Ago
Down -21%
Vs. Year Ago
Up
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 29 sold this month in Wayne Real Estate. This month's total units sold was lower than at this time last year, a decrease from May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 26 units or 21%. The total number of active inventory this May was 95 compared to 121 in May 2019. This month's total of 95 is higher than the previous month's total supply of available inventory of 84, an increase of 13%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Wayne Homes was $575,000. This May, the median sale price was $696,185, an increase of $121,185 compared to last year. The current median sold price is higher than in April.

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


New Listings
65
Current Contracts
43
Sold Vs. List Price
102.9%
Months of Supply
3.3
Down -17%
Vs. Year Ago
Down -40%
Vs. Year Ago
Up 4.6%
Vs. Year Ago
Up 36%
Vs. Year Ago

Months of Supply
In May, there was 3.3 months of supply available in Wayne, compared to 2.4 in May 2019. That is an increase of 35% 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 65 homes newly listed for sale in Wayne compared to 78 in May 2019, a decrease of 17%. There were 43 current contracts pending sale this May compared to 72 a year ago. The number of current contracts is 40% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Wayne was 102.9% of the average list price, which is 4.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 36, which is similar compared to a year ago.

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.