The Long & Foster Market Minute

Focus On: Hockessin, Greenville, and Centerville Housing Market March 2021

Zip Code(s): 19707,19807,19710 and 19736
Units Sold
22
Active Inventory
34
Median Sale Price
$504,500
Days On Market
60
Down -27%
Vs. Year Ago
Down -56%
Vs. Year Ago
No Change
Vs. Year Ago
Down -37%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in March, with 22 sold this month in Hockessin, Greenville, and Centerville Real Estate versus 26 last month, a decrease of 15%. This month's total units sold was lower than at this time last year, a decrease of 27% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 44 units or 56%. The total number of active inventory this March was 34 compared to 78 in March 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Last March, the median sale price for Hockessin, Greenville, and Centerville Homes was $502,250. This March, the median sale price was $504,500, which is similar compared to a year ago. The current median sold price is 14% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
42
Current Contracts
37
Sold Vs. List Price
97.9%
Months of Supply
1.5
No Change
Vs. Year Ago
Up 32%
Vs. Year Ago
No Change
Vs. Year Ago
Down -40%
Vs. Year Ago

Months of Supply
In March, there was 1.5 months of supply available in Hockessin, Greenville, and Centerville, compared to 2.6 in March 2020. That is a decrease of 41% 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 42 homes newly listed for sale in Hockessin, Greenville, and Centerville, which is similar to the amount in March 2020. There were 37 current contracts pending sale this March compared to 28 a year ago. The number of current contracts is 32% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Hockessin, Greenville, and Centerville 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 60, lower than the average last year, which was 95, a decrease of 37%.

The Long & Foster Market Minute Hockessin, Greenville, and Centerville are defined as properties listed in zip code/s 19707,19807,19710 and 19736.
*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.