The Long & Foster Market Minute

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

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 4%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 10%
Vs. Year Ago
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 24 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 18 last month, an increase of 33%. This month's total units sold was higher than at this time last year, an increase of 4% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 25 units or 20%. The total number of active inventory this April was 102 compared to 127 in April 2018. This month's total of 102 is lower than the previous month's total supply of available inventory of 106, a decrease of 4%.

Median Sale Price
Last April, the median sale price for Hockessin, Greenville, and Centerville Homes was $385,000. This April, the median sale price was $422,500, an increase of 10% or $37,500 compared to last year. The current median sold price is 9% lower than in March.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -31%
Vs. Year Ago
No Change
Vs. Year Ago
Down -3.6%
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In April, there was 4.3 months of supply available in Hockessin, Greenville, and Centerville, compared to 5.5 in April 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 45 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 65 in April 2018, a decrease of 31%. There were 36 current contracts pending sale this April, consistent with the volume a year ago. The number of current contracts is 9% higher than last month.

Sale Price to List Price Ratio
In April, the average sale price in Hockessin, Greenville, and Centerville was 96.6% of the average list price, which is 3.6% lower 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 58. 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.