The Long & Foster Market Minute

Focus On: West Chester Housing Market October 2018

Zip Code(s): 19382, 19380 and 19395
Units Sold
101
Active Inventory
347
Median Sale Price
$380,000
Days On Market
45
Down -8%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 101 sold this month in West Chester Real Estate versus 78 last month, an increase of 29%. This month's total units sold was lower than at this time last year, a decrease of 8% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 5%. The total number of active inventory this October was 347 compared to 367 in October 2017. This month's total of 347 is lower than the previous month's total supply of available inventory of 364, a decrease of 5%.

Median Sale Price
Last October, the median sale price for West Chester Homes was $407,450. This October, the median sale price was $380,000, a decrease of 7% or $27,450 compared to last year. The current median sold price is 1% 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
151
Current Contracts
111
Sold Vs. List Price
99.4%
Months of Supply
3.4
Down -6%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In October, there was 3.4 months of supply available in West Chester. The amount of supply is similar compared to 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 151 homes newly listed for sale in West Chester compared to 161 in October 2017, a decrease of 6%. There were 111 current contracts pending sale this October compared to 128 a year ago. The number of current contracts is 13% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in West Chester was 99.4% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 45, lower than the average last year, which was 66, a decrease of 32%.

The Long & Foster Market Minute West Chester are defined as properties listed in zip code/s 19382, 19380 and 19395.
*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.