The Long & Foster Market Minute

Focus On: Downingtown Housing Market June 2022

Zip Code(s): 19335 and 19372
Units Sold
71
Active Inventory
61
Median Sale Price
$489,000
Days On Market
10
Down
Vs. Year Ago
Down -52%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -33%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 71 sold this month in Downingtown Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 67 units or 52%. The total number of active inventory this June was 61 compared to 128 in June 2021. This month's total of 61 is lower than the previous month's total supply of available inventory of 65, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Downingtown Homes was $468,250. This June, the median sale price was $489,000, an increase of 4% or $20,750 compared to last year. The current median sold price is 4% higher than in May.

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


New Listings
101
Current Contracts
86
Sold Vs. List Price
104.9%
Months of Supply
0.9
Down -38%
Vs. Year Ago
Down -20%
Vs. Year Ago
No Change
Vs. Year Ago
Down -16%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Downingtown, compared to 1.0 in June 2021. That is a decrease of 15% 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 101 homes newly listed for sale in Downingtown compared to 162 in June 2021, a decrease of 38%. There were 86 current contracts pending sale this June compared to 107 a year ago. The number of current contracts is 20% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Downingtown was 104.9% 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 10, lower than the average last year, which was 15, a decrease of 33%.

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.