The Long & Foster Market Minute

Focus On: West Chester Housing Market December 2019

Zip Code(s): 19382, 19380 and 19395
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 5%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 19%
Vs. Year Ago
Up 10%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 92 sold this month in West Chester Real Estate versus 96 last month, a decrease of 4%. This month's total units sold was higher than at this time last year, an increase of 5% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 66 units or 23%. The total number of active inventory this December was 220 compared to 286 in December 2018. This month's total of 220 is lower than the previous month's total supply of available inventory of 286, a decrease of 23%.

Median Sale Price
Last December, the median sale price for West Chester Homes was $351,500. This December, the median sale price was $417,695, an increase of 19% or $66,195 compared to last year. The current median sold price is 2% higher than in November.

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
Up 51%
Vs. Year Ago
Up 33%
Vs. Year Ago
No Change
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In December, there was 2.4 months of supply available in West Chester, compared to 3.3 in December 2018. That is a decrease of 26% 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 80 homes newly listed for sale in West Chester compared to 53 in December 2018, an increase of 51%. There were 76 current contracts pending sale this December compared to 57 a year ago. The number of current contracts is 33% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in West Chester was 97.9% 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 44, higher than the average last year, which was 40, an increase of 10%.

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.