The Long & Foster Market Minute

Focus On: Hockessin, Greenville, and Centerville Housing Market October 2018

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
20
Active Inventory
124
Median Sale Price
$453,000
Days On Market
54
Down -17%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 20 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 21 last month, a decrease of 5%. This month's total units sold was lower than at this time last year, a decrease of 17% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 16 units or 11%. The total number of active inventory this October was 124 compared to 140 in October 2017. This month's total of 124 is lower than the previous month's total supply of available inventory of 129, a decrease of 4%.

Median Sale Price
Last October, the median sale price for Hockessin, Greenville, and Centerville Homes was $468,250. This October, the median sale price was $453,000, a decrease of 3% or $15,250 compared to last year. The current median sold price is 1% higher than in September.

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


New Listings
39
Current Contracts
34
Sold Vs. List Price
95.4%
Months of Supply
6.2
Down -15%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -3.8%
Vs. Year Ago
Up 6%
Vs. Year Ago

Months of Supply
In October, there was 6.2 months of supply available in Hockessin, Greenville, and Centerville, compared to 5.8 in October 2017. That is an increase of 6% 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 39 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 46 in October 2017, a decrease of 15%. There were 34 current contracts pending sale this October compared to 32 a year ago. The number of current contracts is 6% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Hockessin, Greenville, and Centerville was 95.4% of the average list price, which is 3.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 54, lower than the average last year, which was 62, a decrease of 13%.

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.