The Long & Foster Market Minute

Focus On: Wayne Housing Market June 2019

Zip Code(s): 19087
Units Sold
69
Active Inventory
108
Median Sale Price
$565,000
Days On Market
66
Up 5%
Vs. Year Ago
Down -25%
Vs. Year Ago
No Change
Vs. Year Ago
Up 43%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 69 sold this month in Wayne Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 36 units or 25%. The total number of active inventory this June was 108 compared to 144 in June 2018. This month's total of 108 is lower than the previous month's total supply of available inventory of 117, a decrease of 8%.

Median Sale Price
Last June, the median sale price for Wayne Homes was $565,500. This June, the median sale price was $565,000, which is similar compared to a year ago. The current median sold price is 2% lower than in May.

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


New Listings
70
Current Contracts
58
Sold Vs. List Price
97.3%
Months of Supply
1.6
Down -8%
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago
Down -28%
Vs. Year Ago

Months of Supply
In June, there was 1.6 months of supply available in Wayne, compared to 2.2 in June 2018. That is a decrease of 28% 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 70 homes newly listed for sale in Wayne compared to 76 in June 2018, a decrease of 8%. There were 58 current contracts pending sale this June compared to 56 a year ago. The number of current contracts is 4% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Wayne was 97.3% 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 66, higher than the average last year, which was 46, an increase of 43%.

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.