The Long & Foster Market Minute

Focus On: West Chester Housing Market April 2019

Zip Code(s): 19382, 19380 and 19395
Units Sold
95
Active Inventory
300
Median Sale Price
$378,937
Days On Market
55
Down -34%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 95 sold this month in West Chester Real Estate versus 102 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 34% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 6 units or 2%. The total number of active inventory this April was 300 compared to 306 in April 2018. This month's total of 300 is higher than the previous month's total supply of available inventory of 298, an increase of 1%.

Median Sale Price
Last April, the median sale price for West Chester Homes was $381,000. This April, the median sale price was $378,937, a decrease of 1% or $2,063 compared to last year. The current median sold price is 7% 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.


New Listings
203
Current Contracts
159
Sold Vs. List Price
98.9%
Months of Supply
3.2
Down -1%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Up 48%
Vs. Year Ago

Months of Supply
In April, there was 3.2 months of supply available in West Chester, compared to 2.1 in April 2018. That is an increase of 49% 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 203 homes newly listed for sale in West Chester compared to 205 in April 2018, a decrease of 1%. There were 159 current contracts pending sale this April compared to 180 a year ago. The number of current contracts is 12% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in West Chester was 98.9% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 55, lower than the average last year, which was 63, a decrease of 13%.

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.