The Long & Foster Market Minute

Focus On: West Chester Housing Market December 2020

Zip Code(s): 19382, 19380 and 19395
Units Sold
132
Active Inventory
98
Median Sale Price
$434,950
Days On Market
23
Up
Vs. Year Ago
Down -61%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 132 sold this month in West Chester Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 156 units or 61%. The total number of active inventory this December was 98 compared to 254 in December 2019. This month's total of 98 is lower than the previous month's total supply of available inventory of 127, a decrease of 23%.

Median Sale Price
Last December, the median sale price for West Chester Homes was $414,695. This December, the median sale price was approximately the same at $434,950. The current median sold price is 5% higher than in December 2019.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
81
Current Contracts
82
Sold Vs. List Price
99.7%
Months of Supply
0.7
Up 1%
Vs. Year Ago
Up 26%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -72%
Vs. Year Ago

Months of Supply
In December, there was 0.7 months of supply available in West Chester, compared to 2.6 in December 2019. That is a decrease of 72% 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 81 homes newly listed for sale in West Chester compared to 80 in December 2019, an increase of 1%. There were 82 current contracts pending sale this December compared to 65 a year ago. The number of current contracts is 26% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in West Chester was 99.7% of the average list price, which is 1.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 43, a decrease of 47%.

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.