The Long & Foster Market Minute

Focus On: Phoenixville Housing Market May 2020

Zip Code(s): 19460, 19480 and 19442
Units Sold
41
Active Inventory
74
Median Sale Price
$340,000
Days On Market
47
Down -33%
Vs. Year Ago
Down -47%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 9%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 41 sold this month in Phoenixville Real Estate versus 38 last month, an increase of 8%. This month's total units sold was lower than at this time last year, a decrease of 33% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 66 units or 47%. The total number of active inventory this May was 74 compared to 140 in May 2019. This month's total of 74 is higher than the previous month's total supply of available inventory of 67, an increase of 10%.

Median Sale Price
Last May, the median sale price for Phoenixville Homes was $375,000. This May, the median sale price was $340,000, a decrease of 9% or $35,000 compared to last year. The current median sold price is 8% higher 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
56
Current Contracts
46
Sold Vs. List Price
98.9%
Months of Supply
1.8
Down -48%
Vs. Year Ago
Down -40%
Vs. Year Ago
No Change
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In May, there was 1.8 months of supply available in Phoenixville, compared to 2.3 in May 2019. That is a decrease of 21% 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 56 homes newly listed for sale in Phoenixville compared to 108 in May 2019, a decrease of 48%. There were 46 current contracts pending sale this May compared to 77 a year ago. The number of current contracts is 40% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Phoenixville was 98.9% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 47, higher than the average last year, which was 43, an increase of 9%.

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 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.