Here’s the statistics for May, 2008 in Downingtown, PA:
As you can see the sold median and average price both went lower from April to May this year. More people decided it was time for them to sell as the new listings rose, though compared to last year same time it was about the same number. The number of units for sale is also up.
Another positive sign for Downingtown is the number of listings under contract rose while the days on market for those listings went down. 64 days is a good average days on market for this area. While the number under contract is less than last year, you can see the days on market is about the same. The increase in sales helped the absorption rate for Downingtown go down around 6 months of inventory, which around here is considered still in the “normal” market range.
As always, if you would like a more personalized market analysis for your area feel free to Contact Me. I’m happy to help.
Disclaimer: The data provided here is ©TrendMLS 2008. Information provided is deemed accurate but not guaranteed)
Related posts:
- Downingtown Statistics for June 2008
- Downingtown Statistics for July 2008
- Chester County Real Estate Market 2008 Update
- Exton Statistics – April 2008
Article by John Lauber
My name is John Lauber and I'm a Realtor in Chester County, PA. I love living and working in this area as there is so much to do here. If you have any questions feel free to contact me. I'm happy to help.
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