The Long & Foster Market Minute

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

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
31
Active Inventory
133
Median Sale Price
$455,000
Days On Market
51
Down -9%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 31 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 23 last month, an increase of 35%. This month's total units sold was lower than at this time last year, a decrease of 9% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 14 units or 10%. The total number of active inventory this May was 133 compared to 147 in May 2017. This month's total of 133 is higher than the previous month's total supply of available inventory of 127, an increase of 5%.

Median Sale Price
Last May, the median sale price for Hockessin, Greenville, and Centerville Homes was $414,500. This May, the median sale price was $455,000, an increase of 10% or $40,500 compared to last year. The current median sold price is 18% higher than in April.

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


New Listings
56
Current Contracts
41
Sold Vs. List Price
96.9%
Months of Supply
4.3
Down -10%
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 3.6%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 4.3 months of supply available in Hockessin, Greenville, and Centerville. The amount of supply is similar compared to 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 56 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 62 in May 2017, a decrease of 10%. There were 41 current contracts pending sale this May compared to 33 a year ago. The number of current contracts is 24% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Hockessin, Greenville, and Centerville was 96.9% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 51, lower than the average last year, which was 118. This decrease was impacted by the limited number of sales.

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 TREND 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 TREND or Long & Foster Real Estate, Inc.