The Long & Foster Market Minute

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

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
24
Active Inventory
115
Median Sale Price
$617,500
Days On Market
94
Up 14%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up
Vs. Year Ago
Up 13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 24 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 30 last month, a decrease of 20%. This month's total units sold was higher than at this time last year, an increase of 14% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 12%. The total number of active inventory this September was 115 compared to 130 in September 2018. This month's total of 115 is lower than the previous month's total supply of available inventory of 117, a decrease of 2%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last September, the median sale price for Hockessin, Greenville, and Centerville Homes was $450,000. This September, the median sale price was $617,500, an increase of $167,500 compared to last year. The current median sold price is higher than in August.

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


New Listings
32
Current Contracts
25
Sold Vs. List Price
104.3%
Months of Supply
4.8
Up 3%
Vs. Year Ago
Up 39%
Vs. Year Ago
Up
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In September, there was 4.8 months of supply available in Hockessin, Greenville, and Centerville, compared to 6.2 in September 2018. That is a decrease of 23% 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 32 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 31 in September 2018, an increase of 3%. There were 25 current contracts pending sale this September compared to 18 a year ago. The number of current contracts is 39% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Hockessin, Greenville, and Centerville was 104.3% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 94, higher than the average last year, which was 83, an increase 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.