The Long & Foster Market Minute

Focus On: Downingtown Housing Market August 2022

Zip Code(s): 19335 and 19372
Units Sold
83
Active Inventory
59
Median Sale Price
$475,000
Days On Market
14
Down -33%
Vs. Year Ago
Down -50%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 8%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 83 sold this month in Downingtown Real Estate versus 84 last month, a decrease of 1%. This month's total units sold was lower than at this time last year, a decrease of 33% versus August 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 60 units or 50%. The total number of active inventory this August was 59 compared to 119 in August 2021. This month's total of 59 is lower than the previous month's total supply of available inventory of 67, a decrease of 12%.

Median Sale Price
Last August, the median sale price for Downingtown Homes was $428,540. This August, the median sale price was $475,000, an increase of 11% or $46,460 compared to last year. The current median sold price is 2% lower 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
65
Current Contracts
59
Sold Vs. List Price
103.1%
Months of Supply
0.7
Down -37%
Vs. Year Ago
Down -37%
Vs. Year Ago
No Change
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In August, there was 0.7 months of supply available in Downingtown, compared to 1.0 in August 2021. That is a decrease of 26% 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 65 homes newly listed for sale in Downingtown compared to 103 in August 2021, a decrease of 37%. There were 59 current contracts pending sale this August compared to 93 a year ago. The number of current contracts is 37% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Downingtown was 103.1% 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 14, higher than the average last year, which was 13, an increase of 8%.

The Long & Foster Market Minute Downingtown are defined as properties listed in zip code/s 19335 and 19372.
*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.