The Long & Foster Market Minute

Focus On: West Chester Housing Market May 2018

Zip Code(s): 19382, 19380 and 19395
Units Sold
120
Active Inventory
325
Median Sale Price
$383,750
Days On Market
39
Down -14%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 120 sold this month in West Chester Real Estate versus 139 last month, a decrease of 14%. This month's total units sold was lower than at this time last year, a decrease of 14% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 52 units or 14%. The total number of active inventory this May was 325 compared to 377 in May 2017. This month's total of 325 is higher than the previous month's total supply of available inventory of 289, an increase of 12%.

Median Sale Price
Last May, the median sale price for West Chester Homes was $377,500. This May, the median sale price was $383,750, an increase of 2% or $6,250 compared to last year. The current median sold price is 1% higher than in April.

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


New Listings
218
Current Contracts
135
Sold Vs. List Price
98.7%
Months of Supply
2.7
Down -1%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 2.7 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 218 homes newly listed for sale in West Chester compared to 220 in May 2017, a decrease of 1%. There were 135 current contracts pending sale this May compared to 156 a year ago. The number of current contracts is 13% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in West Chester was 98.7% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 39, lower than the average last year, which was 57, 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 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.