The Long & Foster Market Minute

Focus On: Bellmawr, Runnemede, and Glendora Housing Market May 2020

Zip Code(s): 08031, 08078, 08029, 08007, 08049 and 08045
Units Sold
49
Active Inventory
72
Median Sale Price
$177,000
Days On Market
50
Down -28%
Vs. Year Ago
Down -60%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 49 sold this month in Bellmawr, Runnemede, and Glendora Real Estate versus 38 last month, an increase of 29%. This month's total units sold was lower than at this time last year, a decrease of 28% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 110 units or 60%. The total number of active inventory this May was 72 compared to 182 in May 2019. This month's total of 72 is lower than the previous month's total supply of available inventory of 84, a decrease of 14%.

Median Sale Price
Last May, the median sale price for Bellmawr, Runnemede, and Glendora Homes was $152,450. This May, the median sale price was $177,000, an increase of 16% or $24,550 compared to last year. The current median sold price is 4% 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
58
Current Contracts
59
Sold Vs. List Price
99.0%
Months of Supply
1.5
Down -28%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In May, there was 1.5 months of supply available in Bellmawr, Runnemede, and Glendora, compared to 2.7 in May 2019. That is a decrease of 45% 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 58 homes newly listed for sale in Bellmawr, Runnemede, and Glendora compared to 80 in May 2019, a decrease of 28%. There were 59 current contracts pending sale this May compared to 65 a year ago. The number of current contracts is 9% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Bellmawr, Runnemede, and Glendora was 99.0% of the average list price, which is 1.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 50, lower than the average last year, which was 57, a decrease of 12%.

The Long & Foster Market Minute Bellmawr, Runnemede, and Glendora are defined as properties listed in zip code/s 08031, 08078, 08029, 08007, 08049 and 08045.
*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.