The Long & Foster Market Minute

Focus On: Downingtown Housing Market June 2019

Zip Code(s): 19335 and 19372
Units Sold
93
Active Inventory
142
Median Sale Price
$407,000
Days On Market
53
Down -15%
Vs. Year Ago
Down -35%
Vs. Year Ago
Up 21%
Vs. Year Ago
Up 51%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 93 sold this month in Downingtown Real Estate versus 84 last month, an increase of 11%. This month's total units sold was lower than at this time last year, a decrease of 15% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 78 units or 35%. The total number of active inventory this June was 142 compared to 220 in June 2018. This month's total of 142 is lower than the previous month's total supply of available inventory of 175, a decrease of 19%.

Median Sale Price
Last June, the median sale price for Downingtown Homes was $336,099. This June, the median sale price was $407,000, an increase of 21% or $70,901 compared to last year. The current median sold price is 23% higher than in May.

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


New Listings
102
Current Contracts
95
Sold Vs. List Price
99.4%
Months of Supply
1.5
Down -11%
Vs. Year Ago
Up 48%
Vs. Year Ago
No Change
Vs. Year Ago
Down -24%
Vs. Year Ago

Months of Supply
In June, there was 1.5 months of supply available in Downingtown, compared to 2.0 in June 2018. That is a decrease of 24% 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 102 homes newly listed for sale in Downingtown compared to 115 in June 2018, a decrease of 11%. There were 95 current contracts pending sale this June compared to 64 a year ago. The number of current contracts is 48% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Downingtown was 99.4% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 53, higher than the average last year, which was 35, an increase of 51%.

The Long & Foster Market Minute Downingtown are defined as properties listed in zip code/s 19335 and 19372.
*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.