The Long & Foster Market Minute

Focus On: Downingtown Housing Market April 2023

Zip Code(s): 19335 and 19372
Units Sold
31
Active Inventory
60
Median Sale Price
$513,000
Days On Market
12
Down
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 13%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in April, with 31 sold this month in Downingtown Real Estate. This month's total units sold was lower than at this time last year, a decrease from April 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 20%. The total number of active inventory this April was 60 compared to 75 in April 2022. This month's total of 60 is higher than the previous month's total supply of available inventory of 50, an increase of 20%.

Median Sale Price
Last April, the median sale price for Downingtown Homes was $453,000. This April, the median sale price was $513,000, an increase of 13% or $60,000 compared to last year. The current median sold price is 15% higher than in March.

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


New Listings
73
Current Contracts
56
Sold Vs. List Price
102.2%
Months of Supply
1.9
Down -3%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -2.8%
Vs. Year Ago
Up 83%
Vs. Year Ago

Months of Supply
In April, there was 1.9 months of supply available in Downingtown, compared to 1.1 in April 2022. That is an increase of 83% 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 73 homes newly listed for sale in Downingtown compared to 75 in April 2022, a decrease of 3%. There were 56 current contracts pending sale this April compared to 62 a year ago. The number of current contracts is 10% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Downingtown was 102.2% of the average list price, which is 3.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 12, higher than the average last year, which was 6. This increase was impacted by the limited number of sales.

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.