The Long & Foster Market Minute

Focus On: Downingtown Housing Market February 2019

Zip Code(s): 19335 and 19372
Units Sold
26
Active Inventory
121
Median Sale Price
$270,000
Days On Market
51
Down -24%
Vs. Year Ago
Down -37%
Vs. Year Ago
Down
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 26 sold this month in Downingtown Real Estate versus 32 last month, a decrease of 19%. This month's total units sold was lower than at this time last year, a decrease of 24% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 70 units or 37%. The total number of active inventory this February was 121 compared to 191 in February 2018. This month's supply remained stable as compared to last month.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Downingtown Homes was $336,368. This February, the median sale price was $270,000, a decrease of $66,368 compared to last year. The current median sold price is lower than in January.

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


New Listings
103
Current Contracts
68
Sold Vs. List Price
101.8%
Months of Supply
4.7
Up 18%
Vs. Year Ago
Up 28%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -17%
Vs. Year Ago

Months of Supply
In February, there was 4.7 months of supply available in Downingtown, compared to 5.6 in February 2018. That is a decrease of 17% 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 103 homes newly listed for sale in Downingtown compared to 87 in February 2018, an increase of 18%. There were 68 current contracts pending sale this February compared to 53 a year ago. The number of current contracts is 28% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Downingtown was 101.8% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 51, lower than the average last year, which was 53, a decrease of 4%.

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.