Here’s the breakdown for June 2008 in Downingtown, PA.
As you can see, the median and average prices went up while days on market dropped. However, that was for units sold and as you see homes under contract have gone down while days on market for those homes have risen. While inventory is about the same as last year, less current sales has raised the absorption rate from 6 to almost 10 months of inventory. Of course, summer is historically slower as people vacation, so this could just be normal slowing. We’ll have to see how the summer progresses. The number of new listings also went down which should keep inventories from rising too fast.
If you would like a more personalized view of the market in your neighborhood, township, etc., feel free to contact me. I would be happy to help.
Related posts:
- Downingtown Market Statistics for May, 2008
- Chester County Stats – June 2008 Mid-Month Check
- Downingtown Statistics for July 2008
- Malvern and Paoli statistics for June, 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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