Malvern Pa 19355 Real Estate Market Report
December 8th, 2008 Categories: Chester County, Market Trends
Malvern Real Estate Market Report For November 2008*
The Malvern Pa 19355 Real Estate Market Report comparison between November 2006 and November 2008
for Median Prices, Supply and Demand and Sales Rate indicators shows some good news trends, especially in the Median Under Contract Price and the Days On Market. As in most areas, the Months Supply of Inventory is up more than is typical for this time of year but that’s also an indicator of our current market.
Median Under Contract Prices are up 17% from $486,950 in November of 2006 to $570,000 in November 2008, a very positive indicator. Also the Sales Rate, Days on The Market have dropped significantly from 70 days on the market in November 2006 to 49 DOM in November of 2008. This represents a 30% drop in the number of Days On The Market for Malvern Zip Code 19355, another very positive indicator.
Median For Sale prices are down an encouraging 7% from $699,000 to $650,000, while median Under Contract Prices are up 17% from $486,950 to $570,000 and Median Sold prices in Malvern are down just 1% from $373,000 to $368,000. Malvern is looking like a good place to buy if you’re in the market.
The Absorption indicator of Months Supply of Inventory in Malvern has increased significantly 129% from 7.8 months to 17.8 months supply of inventory. While the MSI is up, the DOM has been steadily dropping. A positive sign.
All Supply and Demand (number of homes) indicators for Malvern are down. The number of homes for sale in Malvern has dropped 25%, from 271 homes for sale in November 2006 to 203 in November of 2008. The number of homes Under Contract has dropped 65% in Malvern from 26 homes under contract in November 2006 to 9 homes under contract in November 2008, a definite slow down in volume. The number of Sold homes in Malvern has dropped 44% from 25 Sold homes in November 2006 to 14 sold homes in Malvern in November of 2008.
*Data courtesy of Trend MLS and Terradatum is deemed accurate but not guaranteed
Email or call, 610-889-5509, Judy Peterson, Prudential Fox and Roach Realtors to talk some more about homes for sale in Malvern Pa or with any questions about your Malvern real estate home values.
