The Long & Foster Market Minute

Focus On: Phoenixville Housing Market May 2018

Zip Code(s): 19460, 19480 and 19442
Units Sold
62
Active Inventory
147
Median Sale Price
$251,751
Days On Market
45
Up 13%
Vs. Year Ago
Down -20%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 10%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 62 sold this month in Phoenixville Real Estate versus 51 last month, an increase of 22%. This month's total units sold was higher than at this time last year, an increase of 13% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 36 units or 20%. The total number of active inventory this May was 147 compared to 183 in May 2017. This month's total of 147 is higher than the previous month's total supply of available inventory of 126, an increase of 17%.

Median Sale Price
Last May, the median sale price for Phoenixville Homes was $267,000. This May, the median sale price was $251,751, a decrease of 6% or $15,249 compared to last year. The current median sold price is 5% lower 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
113
Current Contracts
72
Sold Vs. List Price
98.0%
Months of Supply
2.4
Up 19%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -29%
Vs. Year Ago

Months of Supply
In May, there was 2.4 months of supply available in Phoenixville, compared to 3.3 in May 2017. That is a decrease of 29% 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 113 homes newly listed for sale in Phoenixville compared to 95 in May 2017, an increase of 19%. There were 72 current contracts pending sale this May compared to 71 a year ago. The number of current contracts is 1% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Phoenixville was 98.0% of the average list price, which is 1.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 45, higher than the average last year, which was 41, an increase of 10%.

The Long & Foster Market Minute Phoenixville are defined as properties listed in zip code/s 19460, 19480 and 19442.
*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.