The Long & Foster Market Minute

Focus On: Downingtown Housing Market May 2020

Zip Code(s): 19335 and 19372
Units Sold
45
Active Inventory
119
Median Sale Price
$393,500
Days On Market
30
Down
Vs. Year Ago
Down -36%
Vs. Year Ago
Up 19%
Vs. Year Ago
Up 3%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 45 sold this month in Downingtown Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 68 units or 36%. The total number of active inventory this May was 119 compared to 187 in May 2019. This month's total of 119 is higher than the previous month's total supply of available inventory of 118, an increase of 1%.

Median Sale Price
Last May, the median sale price for Downingtown Homes was $331,500. This May, the median sale price was $393,500, an increase of 19% or $62,000 compared to last year. The current median sold price is 8% higher than in April.

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


New Listings
101
Current Contracts
63
Sold Vs. List Price
99.3%
Months of Supply
2.6
Down -29%
Vs. Year Ago
Down -32%
Vs. Year Ago
No Change
Vs. Year Ago
Up 18%
Vs. Year Ago

Months of Supply
In May, there was 2.6 months of supply available in Downingtown, compared to 2.2 in May 2019. That is an increase of 19% 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 101 homes newly listed for sale in Downingtown compared to 143 in May 2019, a decrease of 29%. There were 63 current contracts pending sale this May compared to 92 a year ago. The number of current contracts is 32% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Downingtown was 99.3% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 30, higher than the average last year, which was 29, an increase of 3%.

The Long & Foster Market Minute Downingtown are defined as properties listed in zip code/s 19335 and 19372.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.