The Long & Foster Market Minute

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

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
28
Active Inventory
124
Median Sale Price
$521,250
Days On Market
79
Down -7%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 28 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 35 last month, a decrease of 20%. This month's total units sold was lower than at this time last year, a decrease of 7% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 3 units or 2%. The total number of active inventory this August was 124 compared to 121 in August 2017. This month's total of 124 is lower than the previous month's total supply of available inventory of 126, a decrease of 2%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last August, the median sale price for Hockessin, Greenville, and Centerville Homes was $443,750. This August, the median sale price was $521,250, an increase of $77,500 compared to last year. The current median sold price is higher than in July.

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


New Listings
35
Current Contracts
24
Sold Vs. List Price
95.6%
Months of Supply
4.4
Up 52%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Up 10%
Vs. Year Ago

Months of Supply
In August, there was 4.4 months of supply available in Hockessin, Greenville, and Centerville, compared to 4.0 in August 2017. That is an increase of 10% 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 35 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 23 in August 2017, an increase of 52%. There were 24 current contracts pending sale this August compared to 21 a year ago. The number of current contracts is 14% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Hockessin, Greenville, and Centerville was 95.6% of the average list price, which is 1.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 79, lower than the average last year, which was 98, a decrease of 19%.

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.