The Long & Foster Market Minute

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

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
37
Active Inventory
115
Median Sale Price
$445,000
Days On Market
56
Up 6%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 37 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 40 last month, a decrease of 8%. This month's total units sold was higher than at this time last year, an increase of 6% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 14 units or 11%. The total number of active inventory this July was 115 compared to 129 in July 2018. This month's total of 115 is higher than the previous month's total supply of available inventory of 112, an increase of 3%.

Median Sale Price
Last July, the median sale price for Hockessin, Greenville, and Centerville Homes was $406,000. This July, the median sale price was $445,000, an increase of 10% or $39,000 compared to last year. The current median sold price is 4% 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
41
Current Contracts
26
Sold Vs. List Price
96.8%
Months of Supply
3.1
Up 21%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -1.7%
Vs. Year Ago
Down -16%
Vs. Year Ago

Months of Supply
In July, there was 3.1 months of supply available in Hockessin, Greenville, and Centerville, compared to 3.7 in July 2018. That is a decrease of 16% 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 41 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 34 in July 2018, an increase of 21%. There were 26 current contracts pending sale this July compared to 28 a year ago. The number of current contracts is 7% lower than last July.

Sale Price to List Price Ratio
In July, the average sale price in Hockessin, Greenville, and Centerville was 96.8% of the average list price, which is 1.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 56, higher than the average last year, which was 37. 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 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.