The Long & Foster Market Minute

Focus On: Downingtown Housing Market August 2018

Zip Code(s): 19335 and 19372
Units Sold
77
Active Inventory
181
Median Sale Price
$355,000
Days On Market
19
Down -18%
Vs. Year Ago
Down -25%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 77 sold this month in Downingtown Real Estate versus 75 last month, an increase of 3%. This month's total units sold was lower than at this time last year, a decrease of 18% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 60 units or 25%. The total number of active inventory this August was 181 compared to 241 in August 2017. This month's total of 181 is lower than the previous month's total supply of available inventory of 187, a decrease of 3%.

Median Sale Price
Last August, the median sale price for Downingtown Homes was $386,000. This August, the median sale price was $355,000, a decrease of 8% or $31,000 compared to last year. The current median sold price is 7% lower 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
106
Current Contracts
78
Sold Vs. List Price
98.3%
Months of Supply
2.4
Up 7%
Vs. Year Ago
Up 24%
Vs. Year Ago
Down -2.1%
Vs. Year Ago
Down -8%
Vs. Year Ago

Months of Supply
In August, there was 2.4 months of supply available in Downingtown, compared to 2.6 in August 2017. That is a decrease of 8% 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 106 homes newly listed for sale in Downingtown compared to 99 in August 2017, an increase of 7%. There were 78 current contracts pending sale this August compared to 63 a year ago. The number of current contracts is 24% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Downingtown was 98.3% of the average list price, which is 2.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 19, lower than the average last year, which was 36, a decrease of 47%.

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 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.