The Long & Foster Market Minute
Focus On: West Chester Housing Market April 2017
Zip Code(s): 19382, 19380 and 19395
Units Sold
114
Active Inventory
345
Median Sale Price
$352,500
Days On Market
46
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -36%
Vs. Year Ago
Units Sold
There was an increase in total units sold in April, with 114 sold this month in West Chester Real Estate. This month's total units sold was higher than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 48 units or 12%. The total number of active inventory this April was 345 compared to 393 in April 2016. This month's total of 345 is higher than the previous month's total supply of available inventory of 306, an increase of 13%.

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Median Sale Price
Last April, the median sale price for West Chester Homes was $328,000. This April, the median sale price was $352,500, an increase of 7% or $24,500 compared to last year. The current median sold price is 10% higher than in March.

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

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New Listings
192
Current Contracts
123
Sold Vs. List Price
97.1%
Months of Supply
3.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -9%
Vs. Year Ago
Down -20%
Vs. Year Ago
No Change
Vs. Year Ago
Down -36%
Vs. Year Ago
Months of Supply
In April, there was 3.0 months of supply available in West Chester, compared to 4.7 in April 2016. That is a decrease of 36% 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.

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New Listings & Current Contracts
This month there were 192 homes newly listed for sale in West Chester compared to 210 in April 2016, a decrease of 9%. There were 123 current contracts pending sale this April compared to 154 a year ago. The number of current contracts is 20% lower than last April.

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Sale Price to List Price Ratio
In April, the average sale price in West Chester was 97.1% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 46, lower than the average last year, which was 72, a decrease of 36%.

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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 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.