The Long & Foster Market Minute

Focus On: Hockessin, Greenville, and Centerville Housing Market June 2018

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
43
Active Inventory
139
Median Sale Price
$476,000
Days On Market
72
No Change
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 29%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 43 sold this month in Hockessin, Greenville, and Centerville Real Estate, an increase of 39%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 5 units or 3%. The total number of active inventory this June was 139 compared to 144 in June 2017. This month's total of 139 is higher than the previous month's total supply of available inventory of 133, an increase of 5%.

Median Sale Price
Last June, the median sale price for Hockessin, Greenville, and Centerville Homes was $459,900. This June, the median sale price was $476,000, an increase of 4% or $16,100 compared to last year. The current median sold price is 5% 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
33
Current Contracts
20
Sold Vs. List Price
95.7%
Months of Supply
3.2
Down -21%
Vs. Year Ago
Down -33%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 3.2 months of supply available in Hockessin, Greenville, and Centerville, compared to 3.3 in June 2017. That is a decrease of 3% 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 33 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 42 in June 2017, a decrease of 21%. There were 20 current contracts pending sale this June compared to 30 a year ago. The number of current contracts is 33% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Hockessin, Greenville, and Centerville was 95.7% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 72, higher than the average last year, which was 56, an increase of 29%.

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.