The Long & Foster Market Minute

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

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
34
Active Inventory
128
Median Sale Price
$435,450
Days On Market
38
Up 3%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -4%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 34 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 43 last month, a decrease of 21%. This month's total units sold was higher than at this time last year, an increase of 3% versus July 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 5%. The total number of active inventory this July was 128 compared to 135 in July 2017. This month's total of 128 is lower than the previous month's total supply of available inventory of 133, a decrease of 4%.

Median Sale Price
Last July, the median sale price for Hockessin, Greenville, and Centerville Homes was $455,000. This July, the median sale price was $435,450, a decrease of 4% or $19,550 compared to last year. The current median sold price is 9% lower than in June.

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


New Listings
33
Current Contracts
25
Sold Vs. List Price
98.2%
Months of Supply
3.8
Up 27%
Vs. Year Ago
No Change
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -8%
Vs. Year Ago

Months of Supply
In July, there was 3.8 months of supply available in Hockessin, Greenville, and Centerville, compared to 4.1 in July 2017. That is a decrease of 8% 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 33 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 26 in July 2017, an increase of 27%. There were 25 current contracts pending sale this July, approximately the same as a year ago. The number of current contracts is also similar as compared to the previous month.

Sale Price to List Price Ratio
In July, the average sale price in Hockessin, Greenville, and Centerville was 98.2% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 38, lower than the average last year, which was 72, a decrease of 47%.

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.