The Long & Foster Market Minute

Focus On: Audubon, East Norriton, and West Norriton Housing Market March 2021

Zip Code(s): 19403 and 19456
Units Sold
48
Active Inventory
43
Median Sale Price
$311,000
Days On Market
23
Up 12%
Vs. Year Ago
Down -57%
Vs. Year Ago
Up 24%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 48 sold this month in Audubon, East Norriton, and West Norriton Real Estate versus 43 last month, an increase of 12%. This month's total units sold was higher than at this time last year, an increase of 12% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 58 units or 57%. The total number of active inventory this March was 43 compared to 101 in March 2020. This month's total of 43 is higher than the previous month's total supply of available inventory of 41, an increase of 5%.

Median Sale Price
Last March, the median sale price for Audubon, East Norriton, and West Norriton Homes was $249,900. This March, the median sale price was $311,000, an increase of 24% or $61,100 compared to last year. The current median sold price is 17% higher than in February.

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


New Listings
66
Current Contracts
53
Sold Vs. List Price
103.3%
Months of Supply
0.9
Up 22%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 3.6%
Vs. Year Ago
Down -62%
Vs. Year Ago

Months of Supply
In March, there was 0.9 months of supply available in Audubon, East Norriton, and West Norriton, compared to 2.3 in March 2020. That is a decrease of 62% 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 66 homes newly listed for sale in Audubon, East Norriton, and West Norriton compared to 54 in March 2020, an increase of 22%. There were 53 current contracts pending sale this March compared to 49 a year ago. The number of current contracts is 8% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Audubon, East Norriton, and West Norriton was 103.3% of the average list price, which is 3.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 34, a decrease of 32%.

The Long & Foster Market Minute Audubon, East Norriton, and West Norriton are defined as properties listed in zip code/s 19403 and 19456.
*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.