The Long & Foster Market Minute

Focus On: Phoenixville Housing Market August 2018

Zip Code(s): 19460, 19480 and 19442
Units Sold
80
Active Inventory
131
Median Sale Price
$311,000
Days On Market
41
Up 33%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 80 sold this month in Phoenixville Real Estate versus 74 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 33% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 44 units or 25%. The total number of active inventory this August was 131 compared to 175 in August 2017. This month's total of 131 is higher than the previous month's total supply of available inventory of 125, an increase of 5%.

Median Sale Price
Last August, the median sale price for Phoenixville Homes was $286,000. This August, the median sale price was $311,000, an increase of 9% or $25,000 compared to last year. The current median sold price is 1% 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
76
Current Contracts
50
Sold Vs. List Price
98.4%
Months of Supply
1.6
Up 19%
Vs. Year Ago
Down -4%
Vs. Year Ago
No Change
Vs. Year Ago
Down -44%
Vs. Year Ago

Months of Supply
In August, there was 1.6 months of supply available in Phoenixville, compared to 2.9 in August 2017. That is a decrease of 44% 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 76 homes newly listed for sale in Phoenixville compared to 64 in August 2017, an increase of 19%. There were 50 current contracts pending sale this August compared to 52 a year ago. The number of current contracts is 4% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Phoenixville was 98.4% 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 41, lower than the average last year, which was 47, a decrease of 13%.

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.