The Long & Foster Market Minute

Focus On: Downingtown Housing Market October 2019

Zip Code(s): 19335 and 19372
Units Sold
56
Active Inventory
147
Median Sale Price
$356,290
Days On Market
32
No Change
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -30%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 56 sold this month in Downingtown Real Estate, a decrease of 30%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 29 units or 16%. The total number of active inventory this October was 147 compared to 176 in October 2018. This month's total of 147 is lower than the previous month's total supply of available inventory of 182, a decrease of 19%.

Median Sale Price
Last October, the median sale price for Downingtown Homes was $339,750. This October, the median sale price was $356,290, an increase of 5% or $16,540 compared to last year. The current median sold price is 8% lower than in September.

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


New Listings
85
Current Contracts
68
Sold Vs. List Price
98.5%
Months of Supply
2.6
Down -11%
Vs. Year Ago
Up 6%
Vs. Year Ago
No Change
Vs. Year Ago
Down -16%
Vs. Year Ago

Months of Supply
In October, there was 2.6 months of supply available in Downingtown, compared to 3.1 in October 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 85 homes newly listed for sale in Downingtown compared to 96 in October 2018, a decrease of 11%. There were 68 current contracts pending sale this October compared to 64 a year ago. The number of current contracts is 6% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Downingtown was 98.5% 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 32, lower than the average last year, which was 46, a decrease of 30%.

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.