The Long & Foster Market Minute

Focus On: West Chester Housing Market August 2018

Zip Code(s): 19382, 19380 and 19395
Units Sold
161
Active Inventory
334
Median Sale Price
$420,000
Days On Market
30
Down -4%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -27%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 161 sold this month in West Chester Real Estate versus 164 last month, a decrease of 2%. This month's total units sold was lower than at this time last year, a decrease of 4% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 16 units or 5%. The total number of active inventory this August was 334 compared to 350 in August 2017. This month's total of 334 is higher than the previous month's total supply of available inventory of 317, an increase of 5%.

Median Sale Price
Last August, the median sale price for West Chester Homes was $395,000. This August, the median sale price was $420,000, an increase of 6% or $25,000 compared to last year. The current median sold price is 7% higher than in July.

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


New Listings
153
Current Contracts
83
Sold Vs. List Price
99.3%
Months of Supply
2.1
Up 7%
Vs. Year Ago
Down -28%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In August, there was 2.1 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 153 homes newly listed for sale in West Chester compared to 143 in August 2017, an increase of 7%. There were 83 current contracts pending sale this August compared to 116 a year ago. The number of current contracts is 28% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in West Chester was 99.3% 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 30, lower than the average last year, which was 41, a decrease of 27%.

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.