The Long & Foster Market Minute

Focus On: Norristown, Audubon, and Eagleville Housing Market June 2021

Zip Code(s): 19401
Units Sold
59
Active Inventory
79
Median Sale Price
$211,500
Days On Market
15
Up
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -35%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 59 sold this month in Norristown, Audubon, and Eagleville 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 13 units or 14%. The total number of active inventory this June was 79 compared to 92 in June 2020. This month's total of 79 is higher than the previous month's total supply of available inventory of 61, an increase of 30%.

Median Sale Price
Last June, the median sale price for Norristown, Audubon, and Eagleville Homes was $187,200. This June, the median sale price was $211,500, an increase of $24,300 compared to last year. The current median sold price is higher 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
84
Current Contracts
53
Sold Vs. List Price
102.4%
Months of Supply
1.3
Up 45%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 4.5%
Vs. Year Ago
Down -65%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Norristown, Audubon, and Eagleville, compared to 3.8 in June 2020. That is a decrease of 65% 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 84 homes newly listed for sale in Norristown, Audubon, and Eagleville compared to 58 in June 2020, an increase of 45%. There were 53 current contracts pending sale this June compared to 54 a year ago. The number of current contracts is 2% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Norristown, Audubon, and Eagleville was 102.4% of the average list price, which is 4.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 23, a decrease of 35%.

The Long & Foster Market Minute Norristown, Audubon, and Eagleville are defined as properties listed in zip code/s 19401.
*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.