The Long & Foster Market Minute

Focus On: Hockessin, Greenville, and Centerville Housing Market December 2017

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
28
Active Inventory
109
Median Sale Price
$456,000
Days On Market
76
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -22%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 28 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 25 last month, an increase of 12%. This month's total units sold was lower than at this time last year, a decrease of 22% versus December 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 3 units or 3%. The total number of active inventory this December was 109 compared to 112 in December 2016. This month's total of 109 is lower than the previous month's total supply of available inventory of 127, a decrease of 14%.

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Median Sale Price
Last December, the median sale price for Hockessin, Greenville, and Centerville Homes was $393,450. This December, the median sale price was $456,000, an increase of 16% or $62,550 compared to last year. The current median sold price is 7% higher than in November.

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

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New Listings
9
Current Contracts
9
Sold Vs. List Price
97.4%
Months of Supply
3.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -44%
Vs. Year Ago
Down -44%
Vs. Year Ago
Up 3.8%
Vs. Year Ago
Up 25%
Vs. Year Ago

Months of Supply
In December, there was 3.9 months of supply available in Hockessin, Greenville, and Centerville, compared to 3.1 in December 2016. That is an increase of 25% 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.

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New Listings & Current Contracts
This month there were 9 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 16 in December 2016, a decrease of 44%. There were 9 current contracts pending sale this December compared to 16 a year ago. The number of current contracts is 44% lower than last December.

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Sale Price to List Price Ratio
In December, the average sale price in Hockessin, Greenville, and Centerville was 97.4% of the average list price, which is 3.6% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 76, higher than the average last year, which was 71, an increase of 7%.

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The Long & Foster Market Minute Hockessin, Greenville, and Centerville are defined as properties listed in zip code/s 19707,19807,19710 and 19736.
*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 TREND 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 TREND or Long & Foster Real Estate, Inc.