The Long & Foster Market Minute

Focus On: Hockessin, Greenville, and Centerville Housing Market March 2019

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
17
Active Inventory
96
Median Sale Price
$486,500
Days On Market
42
Down
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -49%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 17 sold this month in Hockessin, Greenville, and Centerville Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 17%. The total number of active inventory this March was 96 compared to 115 in March 2018. This month's total of 96 is lower than the previous month's total supply of available inventory of 105, a decrease of 9%.

Median Sale Price
Last March, the median sale price for Hockessin, Greenville, and Centerville Homes was $451,500. This March, the median sale price was $486,500, an increase of 8% or $35,000 compared to last year. The current median sold price is 13% lower than in February.

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


New Listings
34
Current Contracts
36
Sold Vs. List Price
101.9%
Months of Supply
5.6
Down -3%
Vs. Year Ago
Up 29%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 48%
Vs. Year Ago

Months of Supply
In March, there was 5.6 months of supply available in Hockessin, Greenville, and Centerville, compared to 3.8 in March 2018. That is an increase of 47% 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 34 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 35 in March 2018, a decrease of 3%. There were 36 current contracts pending sale this March compared to 28 a year ago. The number of current contracts is 29% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Hockessin, Greenville, and Centerville was 101.9% of the average list price, which is 4.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 42, lower than the average last year, which was 82, a decrease of 49%.

The Long & Foster Market Minute Hockessin, Greenville, and Centerville are defined as properties listed in zip code/s 19707,19807,19710 and 19736.
*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.