The Long & Foster Market Minute

Focus On: West Chester Housing Market June 2019

Zip Code(s): 19382, 19380 and 19395
Units Sold
164
Active Inventory
285
Median Sale Price
$432,750
Days On Market
55
Down -18%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 67%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 164 sold this month in West Chester Real Estate versus 125 last month, an increase of 31%. This month's total units sold was lower than at this time last year, a decrease of 18% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 62 units or 18%. The total number of active inventory this June was 285 compared to 347 in June 2018. This month's total of 285 is lower than the previous month's total supply of available inventory of 331, a decrease of 14%.

Median Sale Price
Last June, the median sale price for West Chester Homes was $425,000. This June, the median sale price was $432,750, an increase of 2% or $7,750 compared to last year. The current median sold price is 11% 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
153
Current Contracts
143
Sold Vs. List Price
98.4%
Months of Supply
1.7
Down -18%
Vs. Year Ago
Down -1%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 1.7 months of supply available in West Chester. The amount of supply is similar compared to 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 153 homes newly listed for sale in West Chester compared to 186 in June 2018, a decrease of 18%. There were 143 current contracts pending sale this June compared to 144 a year ago. The number of current contracts is 1% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in West Chester was 98.4% 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 55, higher than the average last year, which was 33, an increase of 67%.

The Long & Foster Market Minute West Chester are defined as properties listed in zip code/s 19382, 19380 and 19395.
*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.