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)

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