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Wayne real estate market report
Wayne real estate market report
Wayne postal code covers lots of areas outside of Wayne itself, including areas of Upper Merion, Tredyffrin and even Chesterbrook. 
Like many other local areas sales were up and inventory is down compared to last year. The median price jumped dramatically by $166,050 a 45% increase, more on that later, interestingly days on market also rose.
Attached home sales, town homes and twins, actually dropped year over year whilst all the other areas increased. Condo sales increased by 50% and detached homes doubled year over year.
These increases help to explain the big jump in median sales price. As the town home sales dropped, and detached homes rose then the median price will naturally rise dramatically. Also many of the attached homes may be new construction with higher price points that will also push up the median price.
View the entire report here
Inventory is only slightly lower than last year, so this may help explain the days on market increasing rather than dropping like other markets where there has been a substantial drop in inventory.
Although inventory has remained stable the rate of sales has increased, so like other areas the absorption rate, the time it would take for all homes to sell theoretically if ... more

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