The Long & Foster Market Minute

Focus On: West Chester Housing Market February 2019

Zip Code(s): 19382, 19380 and 19395
Units Sold
62
Active Inventory
250
Median Sale Price
$375,500
Days On Market
84
Down -16%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 35%
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 62 sold this month in West Chester Real Estate versus 56 last month, an increase of 11%. This month's total units sold was lower than at this time last year, a decrease of 16% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 35 units or 12%. The total number of active inventory this February was 250 compared to 285 in February 2018. This month's total of 250 is lower than the previous month's total supply of available inventory of 259, a decrease of 3%.

Median Sale Price
Last February, the median sale price for West Chester Homes was $407,500. This February, the median sale price was $375,500, a decrease of 8% or $32,000 compared to last year. The current median sold price is 4% higher than in January.

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


New Listings
131
Current Contracts
106
Sold Vs. List Price
98.3%
Months of Supply
4.0
Down -15%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -0.5%
Vs. Year Ago
Up 5%
Vs. Year Ago

Months of Supply
In February, there was 4.0 months of supply available in West Chester, compared to 3.9 in February 2018. That is an increase of 5% 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 131 homes newly listed for sale in West Chester compared to 155 in February 2018, a decrease of 15%. There were 106 current contracts pending sale this February compared to 103 a year ago. The number of current contracts is 3% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in West Chester was 98.3% of the average list price, which is 0.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 84, higher than the average last year, which was 62, an increase of 35%.

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.