The Long & Foster Market Minute

Focus On: Downingtown Housing Market October 2018

Zip Code(s): 19335 and 19372
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -22%
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up 16%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 56 sold this month in Downingtown Real Estate versus 86 last month, a decrease of 35%. This month's total units sold was lower than at this time last year, a decrease of 22% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 67 units or 30%. The total number of active inventory this October was 156 compared to 223 in October 2017. This month's total of 156 is lower than the previous month's total supply of available inventory of 160, a decrease of 3%.

Median Sale Price
Last October, the median sale price for Downingtown Homes was $310,250. This October, the median sale price was $339,750, an increase of 10% or $29,500 compared to last year. The current median sold price is 1% higher than in September.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -9%
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -1.6%
Vs. Year Ago
Down -10%
Vs. Year Ago

Months of Supply
In October, there was 2.8 months of supply available in Downingtown, compared to 3.1 in October 2017. That is a decrease 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 96 homes newly listed for sale in Downingtown compared to 106 in October 2017, a decrease of 9%. There were 65 current contracts pending sale this October compared to 75 a year ago. The number of current contracts is 13% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Downingtown was 98.7% of the average list price, which is 1.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 50, higher than the average last year, which was 43, an increase of 16%.

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.