The Long & Foster Market Minute

Focus On: Hockessin, Greenville, and Centerville Housing Market May 2020

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
30
Active Inventory
70
Median Sale Price
$477,500
Days On Market
46
Down -14%
Vs. Year Ago
Down -36%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -25%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 30 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 26 last month, an increase of 15%. This month's total units sold was lower than at this time last year, a decrease of 14% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 39 units or 36%. The total number of active inventory this May was 70 compared to 109 in May 2019. This month's total of 70 is lower than the previous month's total supply of available inventory of 75, a decrease of 7%.

Median Sale Price
Last May, the median sale price for Hockessin, Greenville, and Centerville Homes was $510,000. This May, the median sale price was $477,500, a decrease of 6% or $32,500 compared to last year. The current median sold price is 2% lower than in April.

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


New Listings
27
Current Contracts
27
Sold Vs. List Price
96.1%
Months of Supply
2.3
Down -50%
Vs. Year Ago
Down -27%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In May, there was 2.3 months of supply available in Hockessin, Greenville, and Centerville, compared to 3.1 in May 2019. That is a decrease of 25% 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 27 homes newly listed for sale in Hockessin, Greenville, and Centerville compared to 54 in May 2019, a decrease of 50%. There were 27 current contracts pending sale this May compared to 37 a year ago. The number of current contracts is 27% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Hockessin, Greenville, and Centerville was 96.1% of the average list price, which is 0.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 46, lower than the average last year, which was 61, a decrease of 25%.

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.