The Long & Foster Market Minute

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

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
15
Active Inventory
100
Median Sale Price
$475,000
Days On Market
43
Up
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in January, with 15 sold this month in Hockessin, Greenville, and Centerville Real Estate. This month's total units sold was higher than at this time last year, an increase from January 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 7%. The total number of active inventory this January was 100 compared to 107 in January 2018. This month's total of 100 is lower than the previous month's total supply of available inventory of 105, a decrease of 5%.

Median Sale Price
Last January, the median sale price for Hockessin, Greenville, and Centerville Homes was $448,000. This January, the median sale price was $475,000, an increase of 6% or $27,000 compared to last year. The current median sold price is 4% higher than in December.

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


New Listings
25
Current Contracts
15
Sold Vs. List Price
95.7%
Months of Supply
6.7
Down -14%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 2.4%
Vs. Year Ago
Down -31%
Vs. Year Ago

Months of Supply
In January, there was 6.7 months of supply available in Hockessin, Greenville, and Centerville, compared to 9.7 in January 2018. That is a decrease of 31% 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 25 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 29 in January 2018, a decrease of 14%. There were 15 current contracts pending sale this January compared to 20 a year ago. The number of current contracts is 25% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Hockessin, Greenville, and Centerville was 95.7% of the average list price, which is 2.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 43, lower than the average last year, which was 51, a decrease of 16%.

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.