The Long & Foster Market Minute

Focus On: Downingtown Housing Market November 2020

Zip Code(s): 19335 and 19372
Units Sold
76
Active Inventory
50
Median Sale Price
$398,000
Days On Market
16
Up 29%
Vs. Year Ago
Down -68%
Vs. Year Ago
Up 21%
Vs. Year Ago
Down -56%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 76 sold this month in Downingtown Real Estate versus 96 last month, a decrease of 21%. This month's total units sold was higher than at this time last year, an increase of 29% versus November 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 106 units or 68%. The total number of active inventory this November was 50 compared to 156 in November 2019. This month's total of 50 is lower than the previous month's total supply of available inventory of 84, a decrease of 40%.

Median Sale Price
Last November, the median sale price for Downingtown Homes was $328,990. This November, the median sale price was $398,000, an increase of 21% or $69,010 compared to last year. The current median sold price is 5% lower than in October.

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


New Listings
61
Current Contracts
74
Sold Vs. List Price
102.4%
Months of Supply
0.7
Down -31%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -75%
Vs. Year Ago

Months of Supply
In November, there was 0.7 months of supply available in Downingtown, compared to 2.6 in November 2019. That is a decrease of 75% 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 61 homes newly listed for sale in Downingtown compared to 88 in November 2019, a decrease of 31%. There were 74 current contracts pending sale this November compared to 76 a year ago. The number of current contracts is 3% lower than last November.

Sale Price to List Price Ratio
In November, the average sale price in Downingtown was 102.4% of the average list price, which is 2.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 16, lower than the average last year, which was 36, a decrease of 56%.

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.