The Long & Foster Market Minute

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

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
21
Active Inventory
126
Median Sale Price
$450,000
Days On Market
83
Down -16%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 21 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 29 last month, a decrease of 28%. This month's total units sold was lower than at this time last year, a decrease of 16% versus September 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 September was 126 compared to 140 in September 2017. This month's total of 126 is higher than the previous month's total supply of available inventory of 124, an increase of 2%.

Median Sale Price
Last September, the median sale price for Hockessin, Greenville, and Centerville Homes was $495,000. This September, the median sale price was $450,000, a decrease of 9% or $45,000 compared to last year. The current median sold price is 12% lower 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
17
Sold Vs. List Price
94.2%
Months of Supply
6.0
Down -37%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -2.6%
Vs. Year Ago
Up 7%
Vs. Year Ago

Months of Supply
In September, there was 6.0 months of supply available in Hockessin, Greenville, and Centerville, compared to 5.6 in September 2017. That is an increase of 7% 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 51 in September 2017, a decrease of 37%. There were 17 current contracts pending sale this September compared to 19 a year ago. The number of current contracts is 11% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Hockessin, Greenville, and Centerville was 94.2% of the average list price, which is 2.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 83, higher than the average last year, which was 50. This increase 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.