The Long & Foster Market Minute

Focus On: Phoenixville Housing Market October 2018

Zip Code(s): 19460, 19480 and 19442
Units Sold
60
Active Inventory
138
Median Sale Price
$310,500
Days On Market
28
Up 15%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 24%
Vs. Year Ago
Down -30%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 60 sold this month in Phoenixville Real Estate versus 56 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 15% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 25 units or 15%. The total number of active inventory this October was 138 compared to 163 in October 2017. This month's total of 138 is lower than the previous month's total supply of available inventory of 149, a decrease of 7%.

Median Sale Price
Last October, the median sale price for Phoenixville Homes was $249,500. This October, the median sale price was $310,500, an increase of 24% or $61,000 compared to last year. The current median sold price is 4% lower 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
62
Current Contracts
61
Sold Vs. List Price
102.1%
Months of Supply
2.3
Down -3%
Vs. Year Ago
Up 22%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In October, there was 2.3 months of supply available in Phoenixville, compared to 3.1 in October 2017. That is a decrease of 27% 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 62 homes newly listed for sale in Phoenixville compared to 64 in October 2017, a decrease of 3%. There were 61 current contracts pending sale this October compared to 50 a year ago. The number of current contracts is 22% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Phoenixville was 102.1% of the average list price, which is 3.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 28, lower than the average last year, which was 40, a decrease of 30%.

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.