The Long & Foster Market Minute

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

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
24
Active Inventory
133
Median Sale Price
$390,000
Days On Market
53
Down -23%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -21%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 24 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 29 last month, a decrease of 17%. This month's total units sold was lower than at this time last year, a decrease of 23% versus April 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 8 units or 6%. The total number of active inventory this April was 133 compared to 125 in April 2017. This month's total of 133 is higher than the previous month's total supply of available inventory of 115, an increase of 16%.

Median Sale Price
Last April, the median sale price for Hockessin, Greenville, and Centerville Homes was $400,000. This April, the median sale price was $390,000, a decrease of 3% or $10,000 compared to last year. The current median sold price is 14% lower than in March.

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


New Listings
65
Current Contracts
29
Sold Vs. List Price
100.2%
Months of Supply
5.5
Down -2%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 4.1%
Vs. Year Ago
Up 37%
Vs. Year Ago

Months of Supply
In April, there was 5.5 months of supply available in Hockessin, Greenville, and Centerville, compared to 4.0 in April 2017. That is an increase of 37% 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 65 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 66 in April 2017, a decrease of 2%. There were 29 current contracts pending sale this April compared to 43 a year ago. The number of current contracts is 33% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Hockessin, Greenville, and Centerville was 100.2% of the average list price, which is 3.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 53, lower than the average last year, which was 67, a decrease of 21%.

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.