Is Downingtown, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Downingtown has remained a Seller's Market.
Key Takeaway
Downingtown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Downingtown, PA
How much do homes in Downingtown, PA cost?
Median Sold Price
$522,500
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Downingtown have sold for 13.8% more than they did a year ago.
Summary: The median home sold price in Downingtown was $522,500 in May 2024, up 13.8% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $178.7K | +32.4% |
| 2 Bedrooms | $305K | $383.8K | +25.8% |
| 3 Bedrooms | $410K | $431K | +5.1% |
| 4 Bedrooms | $625K | $600K | -4.0% |
| 5+ Bedrooms | $820K | $865K | +5.5% |
Summary: Downingtown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.4%, 2 bedroom homes increased by 25.8%, 3 bedroom homes increased by 5.1%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 5.5%.
Median Sold Price Compared To Nearby Cities
| Downingtown | $459.2K | $522.5K | +13.8% |
| West Bradford Township | $541.2K | $530K | -2.1% |
| Caln Township | $379.9K | $360K | -5.2% |
| East Caln Township | $442K | $414K | -6.3% |
Housing Supply in Downingtown, PA
How many homes are available in Downingtown, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 151 | 154 | +2.0% |
Summary: The Downingtown real estate market had 154 homes for sale in May 2024, a 2.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 71 | 79 | +11.3% |
| 4 Bedrooms | 54 | 53 | -1.9% |
| 5+ Bedrooms | 16 | 15 | -6.3% |
Summary: The Downingtown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 11.3%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 31 | -38.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downingtown, you could pay more than the asking price. 67.7% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Downingtown in May 2024, down by 38.0% month-over-month. Of the 31 sold homes, 6% were sold under asking, 26% were sold at asking, and 68% were sold over asking.
Days on Market for Downingtown, PA
How long does it take to sell a home in Downingtown, PA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 22 Days | +66.8% |
Summary: Homes in Downingtown had an average of 22 days on market in May 2024, up by 66.8% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Downingtown are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 31 homes were sold in Downingtown; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
