The Long & Foster Market Minute

Focus On: West Chester Housing Market September 2019

Zip Code(s): 19382, 19380 and 19395
Units Sold
110
Active Inventory
298
Median Sale Price
$414,870
Days On Market
55
Up
Vs. Year Ago
Down -22%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 45%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 110 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 82 units or 22%. The total number of active inventory this September was 298 compared to 380 in September 2018. This month's total of 298 is lower than the previous month's total supply of available inventory of 300, a decrease of 1%.

Median Sale Price
Last September, the median sale price for West Chester Homes was $383,500. This September, the median sale price was $414,870, an increase of 8% or $31,370 compared to last year. The current median sold price is 2% higher than in August.

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


New Listings
143
Current Contracts
90
Sold Vs. List Price
98.9%
Months of Supply
2.7
Down -11%
Vs. Year Ago
Up 3%
Vs. Year Ago
No Change
Vs. Year Ago
Down -44%
Vs. Year Ago

Months of Supply
In September, there was 2.7 months of supply available in West Chester, compared to 4.9 in September 2018. That is a decrease of 44% 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 143 homes newly listed for sale in West Chester compared to 161 in September 2018, a decrease of 11%. There were 90 current contracts pending sale this September compared to 87 a year ago. The number of current contracts is 3% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in West Chester was 98.9% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 55, higher than the average last year, which was 38, an increase of 45%.

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.